Growth of the Serviced Accommodation Industry

Mar 21, 2022

Growth of the Serviced Accommodation Industry

Serviced apartments and the accompanying apartments management Belfast wide is booming at the moment. With the accommodation type becoming more and more popular and trendy by the year, with over 1 million serviced apartments existing in 160 countries in 2021 and a global increase of 24% in capacity over the last two years, our Airbnb management service in Belfast are predicted to continue. So why not add your apartment to our management portfolio, sit back and watch the profits roll in.


If you haven’t heard about this phenomenon, these are fully furnished apartments available for short-term stays that have everything you need inside such as some form of living space and usually a kitchen area. 


Basically everything you expect to have in a rented apartment is what you get, with varying amenities and interior design touches. 


Growth of Serviced Apartments in Belfast

With lots of quirky options, apartments with colourful interiors and carefully selected details of furnishings and decorations, serviced apartments in Belfast have really taken off with the amazing staycations they offer. Every apartment offers a unique experience, different to any other and choosing to stay in one will undoubtedly make your travels more exciting. 


Northern Ireland has risen in popularity in the tourism industry especially due to the number of Serviced Apartments on offer in the city. Back in early 2017, there were news articles on our city being the  fastest growing UK visitor destination and according to Belfast Telegraph serviced accommodation owners earned more than £16 million collectively in 2019. 


With most guests staying in Belfast, they spent upward of  £59 million that year on staying in serviced apartments alone. 


 A Global Phenomenon 

It seems as though every country wants to hop on the bandwagon and be involved in this new way of providing hospitality without the fuss of a hotel. It’s become as easy as searching for serviced apartments nearby and using a booking system to plan your stay.  Due to the pandemic and people resorting to staycations, Belfast has become a very popular place to stay for many people in Ireland. 


Serviced apartments are now also popular to business people as a global report found that “67.74% of corporates now use serviced apartments for business travel” because it’s simply a cheaper option. 


Five years ago countries outside the U.S were not familiar with the likes of AirBnB which is now a globally recognized app used worldwide, which just goes to show how quickly technological trends and advancements are taking off.


For a full global report on this growth of Serviced Apartments you can read up more here.  


The Booking of Airbnb

With the rise of serviced apartments, Airbnb has allowed people to search, save and plan their stay destinations easily on their mobile phones. Signing in with google, there is no need to go through the hassle of creating a new account, and this also allows you to share places with your companion. 


Once you make a booking you can simply send the reservation to the person who’s coming with you and they instantly receive an email with all the details! 


Airbnb has also allowed for personal communication with the owner of the apartments, which offers a whole different experience to that of booking a hotel. Getting to know the person who has created the space is a great personal touch and people are loving it! 


So What Makes Serviced Apartments Unique?

It’s undeniable that people are loving rentable apartments. The convenience of booking an entire apartment rather than just a hotel room is a highly attractive feature. Having the ability to house a small to large number of people is also a great perk, especially to businesses who are booking trips abroad.


This has also been a popular alternative to family events and special occasions. 


Families are now booking apartments around Christmas time to be able to house the entire family and get a holiday feel to Christmas, while young people are prioritising finding an apartment for their group of friends rather than staying in a hotel monitored by staff – which is a huge problem for the industry.


Freedom and privacy is potentially a factor that plays a huge role in apartments being people’s go to option, with no reception desk or other occupants nearby, people have more independence. 


With the global pandemic resulting in many businesses within the hospitality sector having to cut down on staff, the serviced apartments industry didn’t face this issue. Although serviced apartment owners didn’t have staff to pay, they still suffered as a result of less bookings, other than for remote working purposes. 


With things slowly returning to normal in 2021, we saw many go on ‘staycations’ within all of Ireland, with Belfast being the centre point of attraction for those staying in Northern Ireland. 


Going forward, with Businesses transforming into remote working environments and people no longer being tied to a designated office location, serviced apartments will undoubtedly rise in popularity in 2022.


With businesses already planning to be ‘sustainable in 2022’, you can expect to see a lot of workcation’s.


If you’re planning your next vacation and are interested in giving serviced apartments a go, why don’t you check out these fabulous quirky apartments in Belfast where there are millions of things to do.

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