Serviced apartment boom as SACO sees 2014 revenues soarThursday 12 February 2015 by Jo Redman We celebrated record results in 2014 and can't wait to announce our exciting plans for 2015 and beyond!
We were delighted with our incredible 2014 results which included:
• Year-on-year revenue increase of 21%
• Corporate bookings up 15%
• 41% surge in online reservations
Business travellers choosing serviced apartments over traditional hotels have fuelled a 21% revenue increase for SACO The Serviced Apartment Company according to figures released today.
The UK-based company, which provides modern and flexible serviced apartments in 220 destinations around the world, saw corporate bookings rise 15% during the 2014 financial year.
A surge in online bookings has helped to boost uptake of serviced apartments, with online reservations rising 41% over the past year.
Ben Harper, Sales Director, SACO, said: “The popularity of serviced apartments continues to grow, and today’s savvy business travellers know our properties provide the flexibility and freedom of self-catering, with the reliability that comes with a globally-recognised brand.
“However, the important thing from a long term perspective is that when people trial a serviced apartment, we’re exceeding expectations. Our satisfaction levels are up 3% on last year, with 94% of visitors rating their stay as excellent or above. It is this consistency and quality that is driving repeat bookings and establishing SACO as a major player in global hospitality.”
The results released by SACO also highlight the huge growth potential in consumer bookings, having seen an increase of 260% over the past year.
In the past year, SACO has increased its global presence from 50 to 52 countries, with the total number of apartments it offers passing the 30,000 mark for the first time. In the UK, SACO grew its London footprint by 25%, increasing the number of apartments from 203 to 250 and expanding its total portfolio by 13%.
Relocation currently makes up 8% of SACO’s revenues, and senior executives have highlighted this growing segment as another key priority for 2015.
The company has released the 2014 financial results ahead of the Business Travel Show (London, 25-26 February), where the company will unveil fresh research on the latest trends in business travel.
Jo Redman joined SACO in 2004 after 11 years in the travel and telecommunications industry leading teams of people to deliver sales results with a strong emphasis on providing exceptional customer service. In recent years Jo has provided the strategic direction and management to take the company’s marketing capability and SACO brand forward, with a strong emphasis on bringing the brand to life through SACO teams and people. Jo is also an Engage for Success (EFS) Ambassador. EFS is a movement committed to the idea that there is a better way to work, a better way to enable personal growth, organisational growth and ultimately growth for Britain by releasing more of the capability and potential of people at work. ”It’s all about the people” – could be Jo’s mantraRead more articles by Jo Redman