Hospitality Sector is among one of the fastest growing sector nowadays. The credit goes to increasing travel, tourism, and globalization of business and commerce. Apart from the regular tourists, a majority of travelers are business executives travelling abroad to onsite assignments. They need proper accommodation facilities with excellent comfort and luxuries.
Serviced Apartments rental is a new but popular culture in accommodation. The trend is getting equal popularity globally. One can find luxurious serviced apartments matching with the facilities being offered by multi star hotels. People find renting a serviced apartment, a cost effective and convenient option of accommodation while abroad.
Origin of Serviced Apartments Rentals
There are different reasons behind origin of serviced apartment rental concepts. There are mainly three reasons that led to the increasing number of residential apartments available for renting:
1. Nowadays, investing in real estate properties is a lucrative option of investment for future. People buy residential properties as an investment for future. These are not intended for their own accommodation. However leaving these luxury residential apartments unused may deteriorate their values. Therefore, people prefer renting them to others looking for accommodation.
2. Due to the fall of economy, it is hard for real estate developer to find enough customers for the luxurious residential apartments they built. They are not getting expected cost for their residential properties. To get attractive returns on their investment they started renting out these residential apartments.
3. Nowadays people prefer living in rented apartments while they are out of their home. A rented serviced apartments provides all the luxury and comfort as offered by five star hotels, but surpassing them in privacy, convenience and available space. Therefore, it is now a global trend of accommodation. Keeping the attractive revenues that serviced apartment’s rental can provide, several real estate players have entered into this segment.
What Makes Serviced Apartments Better Than Hotel Accommodation
A serviced apartment offers all the luxury of modern day living. People get well-furnished apartments with all other facilities like King/Queen sized beds, leather sofas, modern communication facilities comprising Internet and direct dial telephones, state of the art entertainment (including Big Screen LCD/Plasma Televisions, DVD players, Satellite Connections), gymnasium, swimming pools, shopping centers, and play areas.
People can have all the facilities of a five star hotel room on cheaper rates. So they prefer renting serviced apartments over hotel rooms.
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getting equal popularity globally. One can find luxurious serviced apartments matching with the facilities being offered by multi star hotels. People find renting a serviced apartment, a cost effective and convenient option of accommodation while abroad.
Origin of Serviced Apartments Rentals
There are different reasons behind origin of serviced apartment rental concepts. There are mainly three reasons that led to the increasing number of residential apartments available for renting:
1. Nowadays, investing in real estate properties is a lucrative option of investment for future. People buy residential properties as an investment for future. These are not intended for their own accommodation. However leaving these luxury residential apartments unused may deteriorate their values. Therefore, people prefer renting them to others looking for accommodation.
2. Due to the fall of economy, it is hard for real estate developer to find enough customers for the luxurious residential apartments they built. They are not getting expected cost for their residential properties. To get attractive returns on their investment they started renting out these residential apartments.
3. Nowadays people prefer living in rented apartments while they are out of their home. A rented serviced apartments provides all the luxury and comfort as offered by five star hotels, but surpassing them in privacy, convenience and available space. Therefore, it is now a global trend of accommodation. Keeping the attractive revenues that serviced apartment’s rental can provide, several real estate players have entered into this segment.
What Makes Serviced Apartments Better Than Hotel Accommodation
A serviced apartment offers all the luxury of modern day living. People get well-furnished apartments with all other facilities like King/Queen sized beds, leather sofas, modern communication facilities comprising Internet and direct dial telephones, state of the art entertainment (including Big Screen LCD/Plasma Televisions, DVD players, Satellite Connections), gymnasium, swimming pools, shopping centers, and play areas.
People can have all the facilities of a five star hotel room on cheaper rates. So they prefer renting serviced apartments over hotel rooms.
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