Research by the UK & Ireland’s Institute of Travel Management in April 2008 found that the majority of UK corporate buyers have reacted to rising hotel rates by seeking alternative content for their accommodation programmes. At one end of the spectrum, 71% of corporate buyers have increased their usage of traditional budget hotels, whilst at the other 48% reported greater use of serviced apartments. Asked to explain why they are using serviced apartmentsmore, 38% responded that there was no change in their use of apartments for stays of 5 days or more; 35% advised that they were using apartments to reduce costs across all stay types and 22% were using apartments as a direct alternative to hotels The Apartment.
