Business travel is evolving, and so are accommodation options. Serviced apartments have emerged as a compelling alternative to traditional hotels for many professionals on the move.
At PlanURstay, we’ve seen a growing trend of business travelers opting for these home-like spaces that offer both comfort and functionality. This blog post explores whether a serviced apartment might be the right choice for your next business trip.
What Are Serviced Apartments?
Space and Amenities
Serviced apartments offer a unique blend of home comfort and hotel convenience. These fully furnished living spaces typically provide 30% more room than standard hotel accommodations. This extra space allows for distinct areas dedicated to sleeping, working, and relaxation. A standout feature is the fully equipped kitchen, which enables guests to prepare their own meals (a significant cost-saver for extended stays). High-speed WiFi, an essential for business travelers, comes standard in most serviced apartment packages.
Cost-Effectiveness
For stays that extend beyond a few days, serviced apartments often present a more economical option than hotels. Serviced apartments cost close to 25% less than hotel rooms. This cost advantage becomes even more pronounced for team travel or extended project-based assignments.
Types of Serviced Apartments
Business travelers can select from various serviced apartment options based on their specific needs:
- Studio apartments: These compact spaces work well for solo travelers or short stays.
- One or two-bedroom apartments: These larger units suit longer stays or those who require more space.
- Penthouse suites: These premium options cater to executives or those who need to host small business meetings.
Flexibility and Privacy
Serviced apartments offer enhanced privacy and flexibility compared to hotels. Guests can enjoy a home-like atmosphere without daily housekeeping interruptions (unless requested). Many providers offer adaptable lease terms, accommodating stays ranging from a few days to several months. This flexibility proves particularly valuable for business travelers with uncertain project timelines.
Location and Accessibility
Many serviced apartment providers strategically position their properties in prime business districts or near major transportation hubs. This strategic placement minimizes commute times and enhances overall travel convenience. The global serviced apartment market was estimated at USD 112.42 billion in 2023 and is projected to grow at a CAGR of 12.7% from 2024 to 2030.
As we move forward, let’s explore the specific benefits that make serviced apartments an attractive option for business travelers.
Why Serviced Apartments Excel for Business Travel
Cost-Effective Solutions for Extended Stays
Serviced apartments offer substantial savings for trips that last more than a few days. A study by The Apartment Service revealed that these accommodations can cost up to 30% less than equivalent hotel stays, especially for longer durations. This cost advantage comes from lower nightly rates and the ability to prepare meals in-house. For example, a business traveler staying for two weeks in New York City could save an average of $1,500 by choosing a serviced apartment over a hotel.
A Productive Home Base
Serviced apartments provide comfort and privacy that boost productivity. With distinct living and sleeping areas, travelers maintain a clear boundary between work and rest. This setup benefits those who need to work outside standard office hours or host small meetings. A Skift survey found that 68% of business travelers reported higher productivity when staying in accommodations with separate work areas.
Amenities Tailored for Modern Professionals
Modern serviced apartments come equipped with features designed specifically for business needs. High-speed Wi-Fi (essential for video conferencing and accessing cloud-based work platforms) is standard. Many properties also offer on-site business centers, meeting rooms, and co-working spaces. Some serviced apartment providers in tech hubs like San Francisco and Boston even provide 3D printing facilities and VR rooms, catering to the specific needs of tech industry travelers.
Unmatched Flexibility
The flexibility of serviced apartments surpasses that of traditional hotels. Many allow for lease extensions and include all essential utilities, making them ideal for extended business stays lasting 1-6 months. This flexibility proves invaluable for business travelers with unpredictable schedules or those crossing multiple time zones.
Location and Accessibility
Strategic positioning of serviced apartments in prime business districts or near major transportation hubs minimizes commute times and enhances overall travel convenience. The global serviced apartment market (estimated at USD 112.42 billion in 2023) is projected to grow at a CAGR of 12.7% from 2024 to 2030, indicating increasing demand and availability in key business locations.
These benefits of serviced apartments translate into smoother, more enjoyable business trips. But when exactly should you choose a serviced apartment over a traditional hotel? Let’s explore the specific scenarios where serviced apartments shine brightest for business travelers.
When Should You Choose a Serviced Apartment?
Extended Stays
For trips that last more than a week, serviced apartments offer significant advantages. Booking serviced apartments for corporate trips can lead to impressive cost savings compared to hotels. This cost-effectiveness comes from lower nightly rates and the ability to prepare meals in-house. If your business trip will last a month or longer, a serviced apartment becomes even more attractive. It provides a home-like environment that can help maintain work-life balance during extended periods away from home.
Group Travel and Team Projects
Serviced apartments excel when you travel with colleagues or work on team projects. Many offer multi-bedroom units or adjacent apartments, which allow team members to stay close while maintaining privacy. This setup facilitates collaboration and can boost productivity. Serviced apartments often provide flexibility, with common areas that can double as impromptu meeting spaces.
Relocations and Long-term Assignments
For employees who undergo relocation or embark on long-term assignments, serviced apartments serve as an ideal transitional home. They offer stability, cost-effectiveness, and the opportunity to settle in comfortably while searching for permanent housing. This option reduces the stress of moving and allows employees to focus on their new roles without the immediate pressure of finding long-term accommodation.
Immersive Local Experience
Business travelers who seek a more authentic local experience often prefer serviced apartments. Unlike standardized hotel rooms, these accommodations typically integrate into residential areas, offering a glimpse into local life. Serviced apartments (often located in diverse neighborhoods) provide this opportunity. They allow guests to shop at local markets, cook regional cuisine, and interact with residents, which fosters a deeper understanding of the business environment and culture.
Cost-Effective Solution
For budget-conscious travelers, serviced apartments often present a more economical option than traditional hotels. This cost advantage becomes even more pronounced for team travel or extended project-based assignments. The fully equipped kitchen allows guests to prepare their own meals, which can result in significant savings on dining expenses (especially for longer stays). Additionally, many serviced apartment programs offer corporate discounts and flexible pricing models, which can further reduce accommodation costs for businesses.
Final Thoughts
Serviced apartments revolutionize business travel by offering unmatched comfort, flexibility, and cost-effectiveness. These accommodations provide spacious living areas, fully equipped kitchens, and dedicated work zones, which create a home-like environment that supports productivity. For trips exceeding a week, team projects, or long-term assignments, serviced apartments often outshine traditional hotels.
PlanURstay understands the unique needs of business travelers and offers an extensive selection of serviced apartments across prime locations in the USA and Canada. We provide flexible short-term leases, hassle-free booking, and all-inclusive pricing to simplify your travel planning. Our commitment to sustainability means we plant a tree for every ten bookings in partnership with Trees4Travel.
As the business travel landscape evolves, serviced apartments adapt to the changing demands of modern professionals. They offer not just a place to stay, but a space to live, work, and thrive during business trips. Consider a serviced apartment for your next business journey to transform your approach to corporate travel.
