A serviced apartment is a type of furnished apartment available for short-term or long-term stays, which provides amenities for daily use. Serviced apartments can be less expensive than equivalent hotel rooms. Since the beginning of the boom in cheap international travel and the corresponding increase in the level of sophistication of international travelers, interest in serviced apartments has risen at the expense of the use of hotels for short stays.The benefits of serviced apartments may include more space and privacy, convenience when traveling with a family, and the cost savings associated with cooking one's own meals in the apartment. The term "serviced apartment" is used when referring to an alternative for hotel accommodation for short and long stay leisure and business travelers. There are however distinctions to be made between types of serviced apartment: Firstly there is the extended stay hotel and "aparthotel."

This type of apartment offers generally a 24-hour reception, is located in city centers, and attempts to give the guest a "home away from home" feeling, within a hotel-like environment. They range from budget to deluxe and room types range from studio apartments (one room which can be used as living area and sleeping area, a little kitchenette and a separate bathroom), to two or three bedroom apartments which offer a separate living area, a kitchen, one or more bathrooms and separate bedroom(s).
Because of the availability of kitchen facilities in the apartments, extended stay properties and apart-hotels do not tend to offer any extra services such as restaurants and bars. There are of course exceptions to this rule, because there are a number of extended stay properties which have been built as an annex to existing four- or five- star hotels and the guests who stay in the apartments can make use of the hotel facilities free of charge.

Secondly, corporate housing. These are residential properties which have been upgraded for shorter term rentals and packaged together with services such as cleaning, utility charges, local taxes, telephone and television, for stays of 30 days or more. They can be located in city centres, but more often than not they are located on the outskirts of the centre of town, with easy access to the main business areas.
Both of the serviced apartment types above have in common that the units are all fully furnished and equipped and the guests will enter a home away from home, with cooking facilities and all modern conveniences such as television, DVD, internet access etc. Some are equipped with luxury features such as bespoke kitchens, generous wardrobe space, full-sized washer and dryer, ceramic tiled bathrooms, oversized baths or jacussi baths, and high-tech wiring/networking capabilities. Having a kitchen means that the client can opt for eating in instead of out, hence making an instant saving. Other benefits of a serviced apartment include, added space to both work and play, more privacy and more comfort.

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