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PRESS RELEASE – Tuesday 13 June 2023
Exeter, England Based on recent research with industry leaders and accommodation partners across their global supply chain, Situ the global extended-stay accommodation agency, has released a white paper on current factors, including legislation, that are impacting the supply of short-term rental accommodation in ten key global locations and how this is affecting the extended-stay sector.
Locations researched and reported on include London, Edinburgh, Dublin, Paris, Amsterdam, Brussels, New York City, Boston, Singapore, and Sydney, with the main conclusion being one of complexity – because no one city is the same as the other, with none of the factors affecting availability in the same way.
The variables that come into play include new and often stricter regulations; the current economic climate both globally and specific to each location; post- pandemic changes to travel and traveller habits; and how availability at peak times such as during high tourist season and major events is influenced.
The drive for regulation in the short-stay accommodation sector has, in part, been prompted by the rise in digital booking platforms for single vacation lets and the effect that these can have on the housing market and the character of local neighbourhoods. These new rules inevitably have an impact on the short-term letting and extended-stay sector.
Phil Stapleton, Situ’s Founder and CEO, says, “Whether short- or long-term accommodation is required, and wherever in the world it is needed, it is becoming increasingly evident that there are similar challenges around changing regulatory environments presenting themselves in each market.
Even greater collaboration across the sector would be welcome. By promoting a better understanding among a broader audience, we will position the sector favourably to avoid limitations as the industry continues to grow.”
“Each location has its own nuances and challenges right now,” says Rebecca Gonzaga, Situ’s Managing Director. “Thankfully, we have the understanding, expertise, resources, and capability to guide our clients through these to secure quality accommodation that meets their requirements.”
As well as analysis and commentary from some of the world’s major cities, the paper also goes on to consider the investment climate for extended-stay accommodation in London and some cities in Europe and how this can also impact supply and availability in the sector.
About Situ
Since 2008, Situ has been helping companies and organisations find the perfect accommodation for people when they’re on the move. Project team, corporate traveller, relocation assignee, global nomad – the title doesn’t matter. They’re all individuals who need somewhere to call home – when they aren’t at home. And that’s what Situ does all day every day, working to make finding and booking serviced accommodation effortless.
Situ offers a single point of contact for booking quality serviced accommodation in over 120 countries across the world. Only the most trusted professional hospitality providers and operators can join the Situ network, and every listing must pass a rigorous quality control first. Situ also offers the full reassurance that its core platforms, processes, and data are secure, robust, and accredited by external bodies such as ISO, IIP, and ISAAP. Crossing the T’s and dotting the I’s is as important to Situ as it is to their clients. Situ’s tech makes finding the accommodation you need effortless. Its platforms are intuitive, flexible, secure, and easily integrated to support automation and third-party partnerships.
But best of all? The Situ teams. They’re the cherry on the cherry on the cake. The ones who go above and beyond but further for every client. So, whatever the Situ – whether it’s a one-off request or creating and managing a global multi-million-dollar corporate housing programme – they can sort it!
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