Alcove Serviced apartments expanding fast in India

With the growth of Bangalore, Chennai and Hyderabad cities as IT Hubs of India and growth of bio-tech and electronics? industries there has been? a strong demand for long-stay accommodations. The serviced apartments segment has not really caught up with the demand. Now hospitality operators are beginning? to understand the potential of this accommodation category, and supply is expected to increase significantly in the coming years.

Looking at installed capacity, industry experts estimate the current serviced apartment capacity? to be a small proportion of the overall hotel room inventory.? According to? ?The Global Serviced Apartments Industry Report 2011-12? , with room supply growing at 15% a year, India is one of the few global serviced apartment markets where supply is expected to exceed demand in major Indian cities in 2012 to 2013.

Hotel rates have been forecast to fall as a result of increased competition from the serviced apartment and budget hotel sectors. As a result, companies are being advised not to commit more than 75% of their requirement of advance purchasing of room nights at discounted corporate rates. A large number Indian organizations have switched to serviced accommodation. In contrast to Europe and the US, booking of these apartments is left to individual travelers to arrange instead of being managed centrally.

Among prominent serviced apartment brands operating in India is Alcove Hospitality.? Alcove Serviced Apartments is already present in Chennai, Hyderabad, Pune and Coorg. Alcove is on an expansion path and plans to add more cities to its network.? It currently operates with 40 apartment units and is looking to quadruple the inventory by 2013.

Alcove adds two new accommodation properties in Bangalore

Villa in HRBR Layout

Facilities :
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Studio rooms in Villa, Koramangala

Facilities :
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??? ?Board room for conference of upto 20 persons
??? ?Camera surveillance across building & 24hrs security
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??? ?AC & LCD TV in bedrooms

Alcove adds three new Apartment Hotel properties in Chennai

Villa in Saidapet

Facilities :
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Villa in Perungudi

Facilities :
??? ?Air-conditioned rooms, Lounge and dinning area
??? ?International / National Channels on TV.
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??? ?Internet Wi-Fi? connectivity
??? ?Daily Housekeeping
??? ?Travel services

Uno in Karapakkam

Facilities :

??? ?Air-conditioned rooms, Lounge and dinning area
??? ?International / National Channels on TV.
??? ?Doctor on call
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??? ?Internet Wi-Fi? connectivity
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Providing all the features of a hotel, serviced apartments are set in a residential locality, yet situated within close proximity to commercial districts, public transport and local shopping,?? They offer a much larger space vis-a-vis a hotel room with facilities like a fully equipped kitchen, individual washing / drying machine, ample storage, quality furnishings ensuring comfort convenience, safety and security for the long-stay guests. Due to the under supply of serviced apartments in the country, and perhaps lack of marketing, a significant percentage of long-stay demand is absorbed by hotels; what is not well known is that long stay category contributes close to 20% of the hotel industry’s overall business.