Serviced to Hospitality

Despite the temporary slump in India’s hospitality industry due to Covid-19, one can say with confidence that in the near future, business travel in India would pick up its original momentum. In fact, not only business travel in India is expected to pick up its original momentum soon but it is expected to grow appreciably say five years down the line.

- Jhuma Biswas

With the growth of the business travel, the serviced apartments too have huge potential to grow in India’s hospitality industry. Serviced apartment is a happening trend in the corporate hospitality sector. Serviced apartments can be described as fully-furnished accommodations which can be used for short-term and as well as long-term stays.

Good quality serviced apartments can give the guests a home away from home feel along with all the trappings of postmodern day hospitality, such as gyms, swimming pools, restaurants or bars.

Mostly, serviced apartments are used by those high-end and middle-rung executives of companies or conglomerates, whose work demands staying outside their home town for several weeks, months or more. Of course, serviced apartments can be and are used by leisure tourists too for short stay purposes.

Sometimes decent serviced apartments can easily give a mid-market hotel a run for its money in terms of facilities offered. No wonder, it is being often seen in India that mid-market hotels and serviced apartment chains competing for the same set of clientele.

And of course, an average serviced apartment is likely to give the guests more space than an average hotel room and generally their rent is much more affordable to the companies (who are the most usual clients of the management of serviced apartments) than the rent at good hotels. No wonder, several hotel chains operating in India have entered the serviced apartment category.

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