SERVICED APARTMENT PROVIDERS in the UK saw a rise in occupancy and weekly rates in 2010. According to new figures from the Association of Serviced Apartment Providers (ASAP), both London and the regions showed steady growth.
Occupancy in London also grew to 89 per cent for the year overall, up three percentage points on 2009. The average weekly rate in London was £907, a 7.5 per cent increase year-on-year.
Outside London, occupancy grew by four percentage points to 76 per cent, while the average net weekly rental rate grew from £538 in 2009 to £594 in 2010, a 10 per cent rise.
In 2010, ASAP's members expanded with openings in a number of secondary cities, including Nottingham, Swansea, Norwich and Bournemouth.