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Service apartment providers have seen occupancy levels increase during the second quarter of this year, compared to the start of 2014.
Figures compiled by the Association of Serviced Apartment Providers (ASAP) and hotel research firm STR Global showed that occupancy for apartments in London rose to 81.5% between April and June, compared to 77.8% in the first quarter of the year.
While revpar for London apartments rose by 9% to an average of £126.67 over the same period.
Occupancy levels also rose by 5.6 percentage points across the rest of the UK from 72.2% between January and March to 77.8% in the last quarter. Revpar also rose by 12% to an average of £65.86.
ASAP said its new partnership with STR allowed it to release occupancy levels for serviced apartments in cities outside London for the first time. Manchester had the highest occupancy for the second quarter of 2014 at 80.2%, followed by Edinburgh (77.7%), Liverpool (77.5%) and Birmingham (68.4%).
James Foice, ASAP’s managing director, said: “We are delighted to report such strong occupancy right across the UK for quarter two proving that the demand for our product continues to go from strength to strength. 2014 is shaping up to be an excellent year for our sector.”
ASAP now represents 73 serviced apartment operators in the UK and Ireland, which offer a total of more than 13,000 apartments.