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Serviced apartments segment stays resilient amid Covid-19 outbreak

Contracts with long-stay corporate clients and uptick in interest from leisure travellers and short-term guests help to provide stability for operators

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Serviced residences such as the Fraser Residence Orchard, Singapore, offer a blend of personalised service and private space, which gives clients a feeling of comfort and safety.

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As countries around the world move cautiously out of their respective lockdowns, it will take some time for the global hospitality sector to recover, says Clarence Tan, the group CEO of Millennium & Copthorne Hotels.

Singapore

DEMAND for serviced apartments in Singapore seems to be holding up during the Covid-19 pandemic due to their focus on corporate travellers. At the same time, they also appeal to short-term guests who prefer them to hotels for the bigger space.

Typically, serviced...

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