Despite suffering the COVID-19 pandemic alongside the traditional hotel sector, the serviced apartment sector has been weathering the storm better owing to a few key factors that show a stronger resilience to a sudden and fundamental shift in demand. In this article, we examine recent innovations in the sector, give a performance update and explore the serviced apartment pipeline for Europe.
In 2018, Los Angeles welcomed a record 50 million visitors, with hotel occupancies and average rates reaching peak levels. Nevertheless, hotels have begun to feel the effects of new supply. This article provides an outlook for 2019.