Serviced apartments in London record occupancy of 81.5%

07 August 2014 by
Serviced apartments in London record occupancy of 81.5%

Occupancy in serviced apartments in London and the regions reached 81.5% and 77.8% respectively during the second quarter of the year, according to new figures from STR Global and the Association of Serviced Apartment Providers (ASAP).

Revenue per available room (revpar) was also up on the first quarter by nine percentage points in London to £126.67 and by 12 percentage points to £65.86 throughout the rest of the UK.

The top performing regional city was Manchester, with an occupancy 80.2%, with figures of 77.7% achieved in Edinburgh, 77.5% in Liverpool, and 68.4% in Birmingham.

James Foice, managing director of the ASAP, 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'.

The ASAP has a membership of 73 serviced apartment operators and agents in the UK and Ireland, representing more than 13,000 apartments.

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