‘Connecting the World of Serviced Living’ was the theme for this year’s Association of Serviced Apartment Providers conference. The day certainly fulfilled that promise, offering delegates the opportunity to network, attend talks and panel discussions, and gain valuable insights into our industry. The following is a selection from just some of the sessions.
State of the Nation: A broad perspective
The State of the Nation panel allowed delegates to hear a wide-ranging, yet in-depth analysis of the current state of the serviced accommodation industry, including how recent global events and geopolitical instability are impacting the sector. With more than half the world’s population having headed to elections in 2024, discussions touched upon the potential impacts of political change in the US. The rising cost of air travel was also noted, as well as challenges for the sector in European markets, and growth in India and China.
Policy and Regulation panel
The panel, ‘Policy & Regulation: Strategic Insights,’ was a detailed discussion of the current state of licensing and regulation around short-term lets in England, Scotland, New York, and in other countries and cities.
The consensus was clear: regulation is necessary but must be approached with care. The complexity of the industry was underscored, with discussions on how regulations impact investment values and the shift in some markets towards shorter stays in C1-classed accommodation and aparthotels. Sally Brading (Destiny Scotland) provided a detailed overview of Scotland’s seven-year journey in regulating the sector, emphasising that regulation requires careful implementation and industry collaboration in order to offer knowledge to decision makers.
Meet the Buyers
The ‘Meet the Buyers’ event presented an excellent opportunity to connect with providers and provoked much discussion, both during and after the session. This event underscored what buyers are seeking, the evolving trends in the industry, and the mutual benefits of collaborating with aggregators.
The Agents’ View
Another insightful session was ‘The Agents’ View,’ where industry experts discussed the current market trends and challenges. Situ’s Phil Stapleton was among the panellists, and emphasised the growing awareness and stable uptake among SMEs of serviced apartments. The discussion also highlighted the scarcity of roles and the current strong position of employers, potentially leading to less incentive business travel. In a recent survey, price was top of a list of considerations for the traveller, with cleanliness and hygiene taking second place and sustainability further down the list than previously. However, it was agreed that sustainability concerns are still important, and that great value is being placed on this in RFPs. Later, the discussion moved on to the rise of AI in operations and guest experiences, and the importance of tech in driving efficiencies. The panel agreed on the value of FAM trips, noting how they build trust and enthusiasm for brands, supporting long-term success.
People: To Hire and to Hold
Another notable session was the panel discussion, ‘People: To Hire and to Hold.’ Situ’s own Head of People, Leah Searle Assoc CIPD, joined other panel members to talk about how organisations can create a good company culture. The panel members covered the importance of a company culture that originates from within and is linked to company values and strategy. Other topics included the challenges of addressing generational differences at work, and the role of incentives and benefits.
An engaging keynote speech
The conference concluded with an engaging keynote address by travel journalist and broadcaster Simon Calder, who noted that in all his years of representing consumer interests in the travel industry, he has yet to receive a complaint about a serviced apartment!
Throughout the conference there were plenty of opportunities to network and catch up with friends and industry peers. At the end of the day the drinks reception was further cheered by the incredible amount raised by delegates for Prostate Cancer UK and in support of James Foice. Having reached and exceeded the fundraising goal, Kearon M of Staycity Group then underwent a significant transformation as a remarkable show of support for this worthy cause.
Thank you ASAP
The 2024 ASAP Conference was testament to the collaborative spirit of the serviced accommodation industry. As one attendee put it, “We may be competitors, but together we work to better the industry.” The enthusiasm of the attendees to come together to discuss challenges, share experiences, and explore opportunities for growth and innovation was truly inspiring.
This was a fantastic conference, and we want to thank ASAP for organising such a successful event. The benefits it brings to the industry are immense, fostering a sense of community, driving innovation, and setting the stage for future growth.