ONYX HOSPITALITY GROUP, a hotel management company that operates a range of hotel and serviced apartment brands, revealed that the serviced apartment market is shifting due to the rise of Airbnb.
The industry’s traditional long-stay trend is changing as more travelers opt for shorter breaks following the consumer appetite for Airbnb-style accommodation.
Duncan Webb, Onyx Hospitality Group’s executive vice president and chief commercial officer, told Travel Daily Media that Shama, Onyx’s serviced apartment brand across cities like Bangkok and Hong Kong, is embracing the change.
He said, “Shama’s traditional long-stay model is morphing into short-stay. I think the growth of the Airbnbs of this world is leading people to realise that, by staying in an apartment, you have a little more freedom and space.
People are looking at serviced apartments in a different way; you could call it ‘Airbnb with security’.”
However, Webb said that the trend is not reflected in all cities. In Shanghai, for instance, where its business travel market is strong, visitors tend to book longer stays.
He said, “So we see the market changing; you only have to look at some of our competitors (the traditional serviced apartment companies) and it’s obvious – they’re selling daily, so we do the same.”
Onyx currently manages 19 Shama residences across Asia-Pacific.