Serviced apartments updates for 2016

Assignments are not only getting shorter; the assignees are getting younger too. The 2016 assignee doesn’t own a home, wants to work overseas and will likely occupy a multi-family property whether on assignment or not. Between 2006 and 2011, data from the US Census Bureau showed the largest decline in homeownership compared with any other age band amongst 24 – 35 year olds, whilst renters in the same age bracket increased by more than a
million.

The contraction of the global economy in 2008 forced mobility programme managers to deploy financial analytics, embrace comprehensive procurement procedures and quantify ROI for the benefit of their corporate overseers.
These economic factors have helped to drive the corporate housing and serviced apartments sectors as cost-effective alternatives to traditional hotels. However their increasing adoption has changed the shape of business models. Corporate buyers now need to understand whether the costof transit and insurance coverage for an assignee’s
household goods approaches or exceeds the additional marginal cost of rental furnishings in the host destination plus the additional cost of storing all the assignees household goods in the country of origin. For buyers, household goods insurance with endless administration, guidelines and procedures has been superseded by simpler, more streamlined management of household good property risks.

Source from The Apartment Service Worldwide

 

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