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WHY SERVICED APARTMENTS ( AND WHY NOT )?
When choosing a serviced apartment over any other accommodation product , the most important factor for travel and mobility buyers is policy compliance , followed by location and traveller safety . In 2023 , the top three factors were traveller safety (# 1 ), location (# 2 ) and cost (# 3 ).
By contrast , agents cite location (# 1 ), cost (# 2 ) and traveller safety (# 3 ) as their clients ’ most important selection criteria .
AI is not yet having any impact on buyers ’ programmes , but buyers cite a wider choice , content , and pricing options as hoped-for future impacts . Agents are also undecided about the future impact AI will have on managed travel programmes .
The top barriers to greater usage of serviced apartments for both buyers and agents in 2024 are cost , followed by location ( i . e . sourcing apartments in the locations they need ) and technology , specifically the lack of online availability .
Fig . 9 Corporates ’ decision making criteria when choosing a serviced apartment 2024
Length of stay