How to save up to 35% on your London accommodation
Published: 02 Oct 2015
Category: Latest News
All organisations are making savings but there are times when a conference call just won’t cut it, and your business resource needs to travel to be onsite. Hotel rooms in London however are expensive. During the first half of 2015 the price of an average hotel stay in the UK reached £104 per night Inc. VAT. according to the Hotels.com Hotel Price Index™ (HPI®).
So how do you get the best value for money if you need to travel for work? Looking to serviced apartments is one solution. As the Association of Serviced Apartment Providers attest to, guests staying 7 nights or more will normally benefit from a reduction in rate per night; those staying for 28 nights or more benefit even further. Taking a serviced apartment in the UK over the same period of time as a hotel may result in a cost savings of up to 30%, based on a Serviced Apartment average of £60-£80 per night. Also as you rent per apartment, not per person this can also make a difference if employees are able to share.
If we look at those business trips where a 4 star hotel might be used, how does this average out for different areas of London?
The financial district in East London has a multinational workforce who come from all corners of the globe and expect 4 star accommodations. If you were to book a 7 night hotel stay in Canary Wharf in October*, its weekly average cost would be £1,711.17. This is a nightly average of £244.45 Inc. VAT. Compare this to Protem Serviced apartments and partner properties in Canary Wharf and the average rate over a selection of 1 bedroom apartments for a 7 night stay is £1,211.20, nightly £173.03 Inc. VAT, which is a saving of over £70 per night, almost 30%.
The original banking square mile is also a popular destination. Looking at a 7 night 4 Star stay in the City of London in October*, an average price per week Inc. VAT would be£1,711.17, working out at a nightly average of £271.12. Again, compare this to Protem Serviced apartments and partner properties in the City of London, and the average rate over a selection of 1 bedroom apartments for a 7 night stay is £1,211.20, which is £173.83 Inc. VAT per night. Here is a saving of almost 35% or £100 per night.
The London Bridge area has a selection of hotels, close to the Thames and business district. In October*, booking a 7 night, 4 Star stay in London Bridge would cost you £1,672.33 per week and £238.90 Inc. VATper night on average. Again, compare Protem Serviced apartments in London Bridge, and the average rate over a selection of 1 bedroom apartments for a 7 night stay would be £1,171.39, and £167.34 Inc. VAT per night, which is a saving of almost 30%, £70 per night.
The benefits of serviced apartments are that they include all the freedom and space of a fully furnished apartment; including completely equipped kitchen including white goods and dining ware, many with en-suite and balconies. Add WiFi as standard to all these comforts, and it has never been a better time to try the London serviced apartments experience and to live the London lifestyle.
*Rates are based on a 7-night stay from the 5th October 2015 onward and the most up to date available data from Hotels.com. Serviced apartments Rates for the same period are supplied via Protem Apartments and associated providers. Protem Apartments accepts no responsibility for incorrect data and/or out of date rates.