Award Date

12-1-2022

Degree Type

Professional Paper

Degree Name

Master of Hospitality Administration

Department

William F. Harrah College of Hospitality

First Committee Member

Christine Bergman

Number of Pages

57

Abstract

Serviced apartments are becoming more mainstream as people become more aware of this asset class. Since the onset of Covid-19, people have opted for serviced apartments instead of a hotel for self-contained, typically with more space with a living area, kitchen and access to laundry facilities throughout the pandemic. Combined with lower operating costs, higher profit margin, and lower cost per key at development revealed the financial resilience of this asset class as most serviced apartments operated at a higher occupancy than hotels. With renewed interest from developers and owners keen to build or convert their existing properties to serviced apartments, This paper shows the financial success of serviced apartments over the pandemic and why the asset class is most successful. We will also identify some of the opportunities that lie ahead for the serviced apartment industry in the future.

Keywords

apart-hotels, condotels, corporate housing, Covid-19, corporate housing, lodging, serviced apartments, serviced residences, short-term rental and temporary living

Disciplines

Hospitality Administration and Management

File Format

pdf

File Size

256 KB

Degree Grantor

University of Nevada, Las Vegas

Language

English

Rights

IN COPYRIGHT. For more information about this rights statement, please visit http://rightsstatements.org/vocab/InC/1.0/

Download


Share

COinS