More checking into serviced apartments here
Sector is booming as such units appeal to firms on a budget, tourists in groups
The serviced apartment sector is thriving, thanks to cost-conscious bosses overseas who avoid booking their staff into pricey hotels when they come here for work.
A Colliers report found that housing a project team together in a rented serviced apartment is usually cheaper as firms are typically charged on a monthly basis.
Putting staff up in separate hotel rooms that charge a daily rate would cost much more.
Colliers noted that the number of staff sent on long overseas business trips has been reduced, partly because firms have been tightening their belts since the global financial crisis in 2008 and 2009.
Demand for serviced apartments in the city centre in the first half of the year was strong, with an estimated average occupancy rate of 79 per cent.