Market potential of service apartments in Singapore

• Main Authors: Chong, Peiling, Hong, Susan, Teo, Jasmine Cheng Pui
• Other Authors: Nanyang Business School
• Format: Final Year Project
• Language: English
• Published: 2013
• Subjects: DRNTU::Business::Marketing
• Online Access: http://hdl.handle.net/10356/51843
• Institution: Nanyang Technological University

The concept of service apartment is relatively new in Singapore and the industry has only begun to flourish here recently . Its popularity is evidenced by the doubling in number of such projects over the last decade, bringing the total to about eighteen now. In observing this booming business, one wonders the extent of its market potential, its target market, and the factors that contribute to its performance, both quantitative and qualitative. Thig dissertation attempts to provide an understanding of the concept of service apartment which primarily serves to fill the accommodation gap between hotels and private apartments. It employs statistical techniques to determine how wel the industry is performing and to forecast the likely future demand. To provide better insights ofthe industry, two case studies (on both The Ascott and Pahn Courtt) are included to give readers an illustration of the key success factors in this industry and the challenges they will face ahead.