The benefits of staying in a serviced apartment rather than hotel often come down to lifestyle. It’s more centrally located, it’s flexible. Yet the biggest benefit that often isn’t discussed as much is the real difference it makes to your wallet. Budgets are being reduced for business travellers. They have to look for more cost-effective travel solutions. A serviced apartment is popular because it reduces the cost based on a longer term stay. Because a serviced apartment has reduced overheads if you’re staying for, say a month, it will work out far cheaper than a visit to a hotel.
To show you what we’re talking about let’s breakdown the figures and costs of a month long visit. The dates we’ve chosen, for ease, is the 10th of March to the 10th April. Imagine you’re spending a month in the capital with a financial firm in The City. Relocation might be on the cards but you’re looking for somewhere comfortable and close to stay for the duration of your contract. The average night rate is £125+ VAT staying at a Clarendon Serviced Apartment. You could stay in The Minories, right in the heart of The City and Canary Wharf and it is £119.
What else do you get with your serviced apartment? The rate includes all utility bills as well as a weekly housekeeping charge. That includes the weekly change of bed linen and towels. There’s also free Wi-Fi in the evenings if you need to catch up on work or stream a film. You also get the Freeview Complimentary welcome pack. No one wants to miss their soaps while they’re away.
It’s the extras that really start to hit into your expenses and it’s largely these that have been hit by the reduction in budgets for business travellers. No more wining and dining and expensive dinners. The benefit of having a fully fitted kitchen at a serviced apartment means you can reduce the amount of money you spend on food and drink while you’re away. Dining out can be tiring, particularly if you’re used to cooking your own meals at home, if you don’t like to sit in a restaurant night after night or order room service. It becomes less of a luxury and more of a chore. Instead with your own kitchen you can do your own cooking, buying ingredients to cook in bulk, if you like.
You also have your own washing machine and dryer. That means no reliance on hotel dry cleaning.
In the same postcode as The Minories you have a few hotels to choose from for a stay over the same period of time. Based on www.londontown.com you have a few venues which start at £118 but the median average is £155 or £158 a night. Each offers Wi-Fi and room service but the extras start to mount up. Wi-Fi can be between £5-£10 a day. Add an extra spend of £30 for your lunch and dinner. Laundry costs are, on average, about £30 a week for your suits, shirts and blouses. The costs start to mount up and it can become an expensive stay.
For a longer visit, especially if your budget as a business traveller is being reduced. It’s much more cost-effective to stay in a serviced apartment.