The Market Report Serviced Apartments & Serviced Accommodations 2021 is published for the fourth time by Michaeler & Partner in cooperation with Apartmentservice and presents the results of the survey of the Austrian market (all provincial capitals) as well as those of Budapest and Prague.
During the pandemic the Austrian temporary housing market proved to be more crisis-resistant than other segments with occupancy rates of 37.0%. Although Serviced Apartments & Serviced Accommodation businesses are still a niche, more and more big players are developing the segment.
For the complete Market Report 2021 (43 pages) and expressions of interest, please contact Roman Kopacek (Managing Director of the Vienna office, here
Among the 186 establishments surveyed, 2-room flats > 40 m² stand out as the category with the highest demand (28.1%). Most of the guests (60.2%) came from within Austria due to the pandemic and the ratio of business to leisure travellers was 64.0% to 36.0%. The advance booking period for the majority (43.3%) of bookings was 1-6 days before arrival.
Budapest & Prag:
In Budapest, of the 97 establishments surveyed, 2-room flats > 40m² were described as the most popular (62.5%) and in Prague (97 establishments surveyed), 1-room flats 25-29m², and 2-room flats < 40m² were described as the most popular category with 25.0% each. In Budapest the ratio of business to leisure travellers was 55.0% to 45.0%, in Prague the ratio is the exact same.
Michaeler & Partner as a hotel & tourism consulting company based in Vienna and South Tyrol has been supporting companies in various phases in Central, Southern and Eastern Europe for decades with its three business divisions: Hotel/Tourism Consulting, Project Management and Project Development.