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By the crazy benchmark of 2021, a 56 per cent February occupancy rate in London for short-term rentals (such as serviced apartments, corporate housing and aparthotels), according to the hotel data consultancy STR, was a singularly impressive achievement.
True, that figure is well down from 65 per cent in February 2020, yet it compares highly favourably with London’s hotels, where occupancy was a catastrophic 24 per cent February 2021, down from 78 per cent a year earlier.
There are several reasons extended stay properties (essentially accommodation with kitchen and laundry facilities) are enjoying their moment in the sun, says Jo Layton, director of CAP Worldwide, a serviced apartment booking agent for the corporate market.
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