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Anonymous14 Oct 2013
Hi fellow members, I could really do with some of your insight here and any advice/assistance/info provided is greatly appreciated.
I am looking to rent a block of 6 x 1 beds and 3 x 2 beds in the heart of the City near Tower Bridge and the 1 beds will be approx 600 sq ft and the 2 beds 925 sq ft and will be offering these as serviced apartments with no minimum stay and in addition to this, below are the other benefits to be offered:
AC in all apts at no extra cost
Full Sky Package inc Sky Sports, Sky Movies etc and Smart TV’s in all rooms and free wi-fi
Daily servicing with weekly bedding change
All bedding high quality Egyptian cotton
Fresh fruit every day
Nespresso machines with free cartridges
Access to a range of services such as laundry, food and beverage, transportation, secreterial through Smart TV app or through online portal and access to 24hr concierge services.
For this I would be looking to charge £225 per night for one bedroom apartments and £300 per night for 2 bedroom apartments, is this value for money in your opinions?
Arron14 Oct 2013
I am not familiar with prices in the area, so although your quotes do seem a bit expensive I can’t comment on that, but I’m thinking that not having a minimum stay is a bit tricky.
What if one customer wants to rent for one night in the middle of the week or on Saturday? They would occupy a room which you could sell for the 5 weekdays or the entire weekend.
Also, apartments usually don’t have flat rates. Not all months and all days are the same. I mean, if I wanted to come in February and someone else wanted to come for Christmas, would we pay the same price? Hhhmmmm…15 Oct 2013
With inflexible rates like that, I think your occupancy throughout the year will be quite low. Look at 196 Bishopsgate- Executive 1 Bed Apartment (albeit 45sqm) available for £140-160 per night in January.
If no minimum stay then you are also deciding to compete with hotels. For those prices even Andaz Liverpool Street would be similar in many instances and for me, with all of their facilities, I would choose Andaz every time.
Your costs and hassle with opening up rooms to changing customer daily will also be huge.
If I were you I would go for lower long term prices and pitch to corporates.15 Oct 2013
Hi guys, thank you for your comments.
The rates I have indicated are basic rack rates, with discounts being offered for corporate clients and longer stays and pricing flexibility depending on seasonal demand.
Once again, thank you for your comments.15 Oct 2013
Hi, these services are beneficial option for all classes of visitors whether they are long term or short term stay. Serviced Apartments are a spacious, stylish and cost-effective alternative to hotels. These apartments come with a variety of services and affordability but, we all choose others references from our friend and relatives or search online for finding. The above views will help as well to select the best apartment in London.18 Oct 2013