Service apartments are a concept that will rapidly pick up in India, given the high level of corporate travel. India has typically been a country where hotels have been more popular with travellers, given the dearth of other options. The lower cost options have been typically very substandard. The high end have been too costly. The new trend in the west has been the prevalence of corporate travellers and tourists living in serviced apartments on extended stays. This turns out to be both economical, as well as has these advantages
1- More space than hotels. Suitable for longer durations
2- High flexibility like self cooking and more spaces
3- All the amenities of hotels at a fraction of the cost
For the investor in serviced apartments, it makes perfect sense. In addition to getting a very high yield on his real estate investment, the investor can see other benefits like enhancement of the property. Also, as the property becomes more popular for accommodation, it will certainly command a very high premium over other underdeveloped properties in the neighborhood.
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