As the metro cities are growing commercially, it has become common for people to travel from one city to another very frequently. Hence the demand for the hospitality industry is to cater the need of the changing economy. As the hotel and hostel are not able to fulfill the demand, a new class of assets, service apartments is booming. Although hotels do provide a variety of amenities such as luxury, comfort and security still they put a big dent in ones pocket.
To cater this demand of affordable housing many companies has come up with the alternative of service apartments, which are gaining a lot of popularity for their luxury experience in affordable pricing.
These assets are popular among people who travel from one city to another city for business meetings, medical treatment, holidays, corporate events etc. Undoubtedly hotels are the most suitable place for organizing such events, but sometimes these events turn out to be more expensive than necessary.
What are Service Apartments??
Service apartments are like any other housing facilities equipped with basic amenities as well as hotels like services. This culture is on the rise especially in metro cities like Delhi, Gurugram as one can avail the hotel like luxury with a homely environment. They are available for a short term as well as long term stay.
Service Apartments in Gurugram:-
Gurugram is considered as one of the fastest-growing corporate hubs in the country. In fact, after Bengaluru, Gurugram is the second most preferred choice for companies to set up their corporate offices. Corporate hubs mean a huge influx of real stat economy. A multitude of businesspeople is always traveling to attend meetings, seminars or events, which inevitably brings higher tariffs charged by the hotels. The real estate developer and property owners know this very well hence cater to the demand they brought a whole new concept of service apartments in Gurugram as an alternative. Unlike hotels, these serviced apartments do not depend on the season and because of their flexibility, they are turning into lucrative assets.
Situated in the heart of the city these serviceapartments in Gurugram are equipped with the gymnasium, yoga and fitness center, libraries. And most of the basic recreational facilities can be avail easily.
These assets are emerging rapidly in the NCR region as more people are preferring remote work, extended holidays, and other factors like open space corporate gathering. The market for serviced apartments in Gurugram is shaping itself and they are on the way to becoming the next most lucrative class in the NCR region. This trend is here to stay for a long time as the analytics collected property owner shows it’s a benefit for all the people involved- the consumers, the service providers as well as the investors.