Whatever their main target market, serviced apartment providers know competition for tenants is likely to heat up in the months ahead. This makes it essential to keep upgrading standard amenities - appliances, entertainment systems and fittings - but also to come up with new attractions and incentives.
'The first question we ask is what we would like in our own homes,' says Pilar Morais, chief executive of Chi Residences. 'This helps us focus on what tenants will want in an apartment they should see as their home away from home.'
Noting that hoteliers in Hong Kong and residential developers are expanding to provide more serviced suites, Morais sees this as a spur for existing operators to raise their game.
Traditionally, the key market segments have been for business travellers, corporate relocations, families, and leisure travellers looking for an alternative to hotels. But whatever the type of tenant or planned length of stay, expectations must be met.
'We have a 24-hour concierge service, so whatever you need at whatever time, our team is available to help with any extra requests,' Morais says. 'We also work with various partners to provide additional services that range from shoe shining and in-room massage to personal yoga sessions.' Tenants don't specifically ask for brand-name amenities, but do notice them. Therefore, Chi makes a point of installing Bose home theatre systems, Samsung 42-inch LCD TVs, and Slumberland queen-sized mattresses. The emphasis is on quality and comfort, with any new product given a thorough 'road test' before purchase terms are agreed.
Advances in technology make it important to add or enhance certain features. These include Oxyvital air purification units which 'wash' the air in each apartment, achieving a quality better than the World Health Organisation standards used as Hong Kong's general guideline. And integrated 'smart' systems let tenants access the internet on their TV screen and receive individual messages and updates from the building management.
According to Gaurang Jhunjhnuwala, Ovolo Group's general manager for business development, the aim is to make every guest's stay 'effortless'. The key to this is being able to anticipate different requirements and new demands, while creating a friendly environment with common lounge areas where people are free to meet, unwind and entertain.