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The serviced apartments sector in London is set to benefit from the return of business travellers who put off trips last year due to the Olympics
Susan Cully, managing director of Marlin Apartments, told BBT that “pent-up” demand was likely to boost the sector this year.
“I’m optimistic about this year – a lot of corporates and businesses held back last year because of the Olympics,” said Cully. “There is pent-up demand which should make 2013 a good year.”
Marlin is a London specialist with six buildings in central and eastern parts of the UK capital, including the City, Canary Wharf and Stratford.
“Corporates still have very tight budgets and price is a key factor, which is why serviced apartments can be a good option,” added Cully. “We have noticed that people are booking earlier than in previous years and we have had enquiries for this summer.”
Cully said that corporate buyers could save between 30-40 per cent on accommodation costs by booking their travellers into serviced apartments compared to an equivalent four-star central London hotel.
Marlin, which opened its first apartment block in 2003, currently has 700 units across its six buildings which offer one or two bedrooms.
“We want to continue to expand in London – we are looking at a couple of sites that we will develop,” said Cully. “They are in the early planning stages at the moment.”