res:harmonics

Essential tools to help grow your long stay operations in 2025 💡 From automated billing to auto extensions - all directly integrated to your financial tools for up to date fiscal reporting - discover some of the core tools that you should be adopting in 2025 to improve operational efficiency 👇 Free up your time to deliver better guest experiences with a purpose built PMS for long stay operations: https://lnkd.in/eTaiydNV

Despite facing huge challenges this year, the serviced apartment sector continues to show its resilience and is marked for significant growth over the next few years. London is expected to overtake Paris in becoming Europe’s largest serviced apartment market, with industry data by Savills projecting a 21% increase in supply by 2028 (based on the committed pipeline). Ahead of tomorrow’s ASAP - The Association of Serviced Apartment Providers conference, in attendance by our CEO and Founder, Giles Horwitch-Smith, and Head of Business Development, Charlie Olpin, we’ve analysed the growth opportunities for serviced apartment operators in 2025. They include: 💡 Emphasisng your unique value proposition 🌍 Embracing hybrid living models ⚡️ Using a property management system Explore how embracing flex and catering to emerging customer segments with PropTech software can create huge growth opportunities for the serviced apartment sector in 2025 👇 If you’re attending ASAP tomorrow, don’t forget to connect with our team!

Finding itself in an increasingly competitive marketplace, the serviced apartment industry competes not only with traditional hotel brands but with the booming vacation rental sector, with platforms like Airbnb normalising alternative short-stay options, and offering flexible, cost-efficient accommodations.   Serviced apartment operators can differentiate themselves by emphasising their unique value proposition—offering more space, privacy, and a second home-like experience that hotels often lack while maintaining a professional, regulated environment distinct from vacation rentals. This has been attracting new customer segments, such as leisure clients and families, and the emerging digital nomad demographic, marking a shift away from the traditional corporate guest type. Blurring hybrid models with serviced apartments has been identified as an opportunity that can foster additional growth for operators. Savills advises operators to ‘tap into extended stay demand as it has the potential to enhance overall returns and mitigate the effects of low-demand periods for other segments and vice versa.’ Serviced apartment operators can handle the complexities associated with hybrid living models by using a property management system that manages varying stay lengths, maximising profit while improving operations and guest experience. These industry challenges, and the opportunities available to operators, are due to be discussed at length at the sold-out ASAP - The Association of Serviced Apartment Providers conference on Thursday 28th November, which our CEO and Founder, Giles Horwitch-Smith and Head of Business Development, Charlie Olpin, will be attending as drinks sponsors. Ahead of the conference, Giles offered this insight into the challenges facing serviced apartment operators: “With increased competition from vacation rentals and rising cost pressures, the serviced apartment industry has faced huge challenges this year. Operators continue to have to fight for business from multiple competitor industries and a continued reliance on OTAs means commission costs still run high, on top of other overheads that have increased dramatically in recent years. “Despite these challenges, there are a number of key growth opportunities for operators who can offer adaptable shared spaces and pivot their offering in ways that differentiate themselves from the challenger vacation rentals market, while maximising returns from every space in their units. “We’re looking forward to discussing these challenges, and opportunities, with operators at the ASAP Conference in London on the 28th November.” In the meantime, learn more about the challenges and opportunities for 2025 of the serviced apartment industry in our latest article 👉 https://lnkd.in/eJgyFa-k

The serviced apartment industry is facing increased pressure, with surging overheads and a slow recovery post-pandemic continuing to impact profitability and sector growth. Industry expert Simon Calder, keynote speaker at the upcoming ASAP - The Association of Serviced Apartment Providers conference (where res:harmonics is proudly sponsoring the drinks reception), expresses that the hospitality industry has ‘endured its greatest challenge in modern history’ over the past five years. Ahead of this sold-out industry-leading conference, we’ve analysed the challenges and growth opportunities for serviced apartment operators in the year ahead. It covers: 🔮 Challenges and opportunities on the horizon – In the aftermath of the pandemic, the serviced apartment industry faces challenges driven by rising costs from almost every direction. However, with a projected increase of 21% in supply, London is expected to overtake Paris to become Europe’s largest serviced apartment market by 2028. ⚡️ Embracing flex to align with emerging customer segments – Serviced apartment operators can differentiate themselves by emphasising their unique value proposition—offering more space, privacy, and a second home-like experience. This has been attracting new customer segments, such as leisure clients and families, and the emerging digital nomad demographic. 🚀 PropTech facilitating flexible stays – Serviced apartment operators can handle the complexities associated with hybrid living models by using a property management system that can manage varying stay lengths, maximising profit while improving both operations and guest experience. Giles Horwitch-Smith, res:harmonics CEO and founder, offered this insight into the challenges facing serviced apartment operators: “With increased competition from vacation rentals and rising cost pressures, the serviced apartment industry has faced huge challenges this year. Operators continue to have to fight for business from multiple competitor industries and a continued reliance on OTAs means commission costs still run high, on top of other overheads that have increased dramatically in recent years. “Despite these challenges, there are a number of key growth opportunities for operators who can offer adaptable shared spaces and pivot their offering in ways that differentiate themselves from the challenger vacation rentals market, while maximising returns from every space in their units. “We’re looking forward to discussing these challenges, and opportunities, with operators at the ASAP Conference in London on the 28th November.” Discover the challenges and opportunities in 2025 for the serviced apartment industry in our latest article 👉 https://lnkd.in/eJgyFa-k Connect with our team next Thursday at the ASAP conference, and join Giles as he opens the post-conference drinks reception.

OTAs provide extensive reach for property managers, with the likes of Airbnb spending $950 million on global advertising each year. However, they come with high commission fees that impact profit margins, with large OTAs charging an average of 15-20% in fees. Meanwhile, direct booking software hosted on a company website considerably lowers commission fees, retaining more of the total booking value and significantly improving profit margins. Property managers can use their commission savings from a direct booking portal to offer guests more competitive prices, encouraging deal-hunters to find their property on an OTA before booking directly to save money. Using an all-in-one software like res:harmonics, property managers can maximise innovative living takings by: 🌪 Using OTAs as a marketing funnel 🌟 Catering to diverse traveller preferences ⚡️ Leveraging flexible property models Learn more about this dual-channel approach to maximise innovative living takings 👇

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As the innovative living industry continues to embrace digital tools, a comprehensive PMS can help coliving, BTR and serviced apartment operators manage complex multi-channel strategies, creating efficiencies and providing a level of personalisation that matches guests’ diverse needs. From business travellers seeking loyalty rewards to younger travellers valuing sustainable features, integrated PropTech solutions can offer a tailored guest experience, all while managing costs and optimising asset profitability for operators. When combined with effective OTA and direct booking strategies, it creates a seamless booking ecosystem meeting the needs of today’s varied traveller segments. Our CEO and Founder, Giles Horwitch-Smith, offered insight into these booking strategies by explaining: “OTA commissions can be difficult to manage and are always top of operators’ considerations, but these costs should be viewed as part of a standard marketing budget, with OTAs treated as just another channel in the funnel. “The crucial point is that operators don’t solely rely on OTAs for bookings and can complement regular interest and awareness provided by the likes of Airbnb with their own direct booking engine, where they can offer more competitive rates and still make larger profits on bookings thanks to commission savings. “For those guests that do come directly from an OTA, it is important that operators still utilise their own systems, capturing data for remarketing and future communications to build loyalty and encourage repeat (direct) bookings in the future.” Read more about maximising innovative living takings using direct booking software and OTAs 👉 https://lnkd.in/e8pHcFDu

Online travel agents (OTAs) dominate the innovative living industry, capturing the attention of nearly 80% of travellers before they finalise a booking. They provide extensive reach for property managers with Airbnb, for example, spending $950 million on global advertising in 2023. However, they come with high commission fees that impact profit margins, with the large OTAs charging an average of 15-20% in fees. Meanwhile, many guests still value the benefits of booking directly through operator websites to receive a more personalised experience and a better rate. Direct booking software, hosted on a company website, considerably lowers commission fees, retaining more of the total booking value and significantly improving profit margins.    Our latest article looks at how operators can leverage direct booking software, alongside OTAs, using a property management system (PMS) to maximise profit. It covers: 💰 The future of OTAs: Opportunity or obstacle? – Valued at USD 600.5 billion last year, the OTA market is projected to grow by 7% annually between 2024 and 2032, driven by greater customer allocation of disposable income for travelling and recreation. 🧐 Customising the booking experience based on audience preferences – Younger travellers are increasingly drawn to personal connections, with 38% of Millennials and Gen Z using traditional travel advisors for a more curated experience, while 63% of Baby Boomers prefer booking directly on vendor websites. ⭐️ Leveraging bookings based on stay type – Business travellers, accounting for 45% of serviced apartment bookings, often prioritise factors beyond price, such as loyalty programs, flexible payment options, and reliability for repeat stays. In this instance, OTAs can help generate initial awareness from business travellers, before operators use direct booking channels to provide exclusive loyalty discounts and customised packages for repeat stays. ⚡️ The role of a PMS in a dual-channel booking strategy – As the innovative living industry continues to embrace digital tools, a comprehensive PMS can help operators manage complex multi-channel strategies, creating efficiencies and providing a level of personalisation that matches guests’ diverse needs. Read our latest article looking at how you can leverage direct booking software, alongside OTAs using a property management system (PMS) to maximise your profit. Link in the comments 👇

Coliving developers and asset managers can maximise profits from their units by leveraging flexible stays, adapting rates based on seasonality and utilising all available space. Our CEO and Founder, Giles Horwitch-Smith, underlines the importance of flexibility in maximising profits for operators across short, medium, and long-stay rentals: “Running different lengths of short and long stays can maximise occupancy throughout the year, increasing operating income by several percentage points depending on location and seasonality, while adapting rates to seasonal demand can maximise profits from existing units. “Flexible lease terms and adaptable spaces also enhance the living experience for guests across different lifestyles based on seasonal usage of shared spaces. “This can be taken further by operators utilising first-party data to send personalised marketing materials that dynamically display these adaptable spaces based on guests’ previous usage.” Using property management software, like res:harmonics, offers this flexibility to guests by: ❌ Avoiding missed opportunities for maximising revenue 🚀 Increasing customer loyalty and repeat bookings through an intelligent CRM system 💰 Adapting and monetising spaces serving multiple purposes Learn more about leveraging flexible stays in hybrid and coliving properties 👇

Longer stays minimise vacant periods while reducing turnover costs, however limiting an asset exclusively to long stays can lead to missed opportunities for maximising revenue during peak seasons. Coliving spaces in seasonal tourist hot spots can benefit from a flexible approach by offering long-stay tenancies during quiet months, before converting to a short-stay hostel model to capitalise on demand during peak tourist season. An all-in-one PMS manages these flexible spaces, with bookable amenities such as desks, meeting rooms, and event rooms, all eligible to be booked and paid for instantly through a system like res:harmonics. In our latest article, Giles Horwitch-Smith (res:harmonics CEO and founder), provides insight into how operators manage hybrid typologies to maximise profit 👉 https://lnkd.in/etmyTgUj