On the bandwagon
The corporate traveller is the most lucrative market for brands such as Frasers, and as more corporate travellers opt for serviced residences over traditional hotel rooms, other hotel brands are adding the apartment concept to take a slice of the pie.
“The market has evolved and not just in the Middle East. We’re running at 90% occupancy at our four Singapore properties.
“Everybody is starting to move into serviced residences. It makes sense,” Henini says. “In Doha there is the Kempinski serviced apartments and now Marriott Executive Apartments.
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“I am seeing a lot of big-name global hotel groups moving towards a mix of hotel accommodation and serviced residences.
“Serviced apartments are something new in the global market, more and more people are looking for this product,” observes Henini.
He says facilities, flexibility and value for money are driving the demand for hotel apartments.
“You can stay in a hotel three or four days then it feels crowded. Fraser Suites Doha offers a home-from-home, with big kitchens. You can rent the room for a meeting or for a year.
“We take the headache from the guest; a lot of companies want a longer stay but don’t want a tenancy agreement or to have to worry about bills, they just want to check in like at a hotel — it’s a flexible arrangement.”
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