Situ forecasts 50% revenue growth as serviced accomodation demand surges

Situ, the global serviced accommodation specialist, is forecasting that its revenue will grow 50% in this financial year as it sees fast-growing demand for the corporate accommodation it delivers across the world.

At the halfway point through its trading year (April – September 2021), Situ has disclosed a full year revenue forecast of £30 million – an increase of almost 50% from its pre-Covid trading figures.

Situ is also forecasting that the total number of room nights it books on behalf of its corporate customers and TMC partners in this trading year will increase by 53%.

It is seeing particular growth in the Global Mobility sector, which is set to more than double to reach 22% of its business this year, and Production & Entertainment – a new target vertical for Situ – which is set to represent around 7% of its activity this year.

Phil Stapleton, Managing Director of Situ, says: “We’ve found growth in this part of our business really satisfying to see and have been very lucky to work closely with our clients to understand their ongoing needs, and build our processes and technology around them

We never stop examining improvements in the process of delivering global temporary accommodation, and therefore we’re always challenging ourselves to see what we can do better.”

James Connell, leader of Situ’s Relocation and Mobility team, credits the growth in the Global Mobility Sector to its expanse of geographical coverage, variety of products to match, and the ease of tech-enabled booking via Situ’s portal, recently named Casa.

Situ has recently grown its Production & Entertainment team with the appointment of Jennifer Wilson, who joined in January 2021. Jennifer has specialised in the Travel and Entertainment Industry for over 10 years, and worked with high-profile clients from across the globe.

Situ has recently unveiled a new brand identity which draws on the company’s vibrancy, with a bold new attitude bringing to the forefront its development and successes over the past decade. Seeking to reflect its personality, the new brand approach emphasises its focus on developing industry-leading technology, and care towards clients, while honouring its roots in hospitality.

It is designed to reflect the core values that anchor the brand, namely prioritising reliability in the provision of service, whilst highlighting its passion and integrity in forming strong connections with clients, suppliers and partners.

Phil Stapleton said of the rebrand: “For me, Situ has always been a hospitality company first and foremost, so we think in terms of guest experience and unforgettable service. We all feel so excited to lead our offering with something so reflective of the company’s ethos and personality.”

Situ continues to develop its platforms and integrations, and now offers live availability to over 250,000 apartments across more than 115 different countries, with more suppliers connecting daily. Discussions are also in place with third party travel and mobility companies who are keen to connect into Situ’s core platform, enabling access to this growing live inventory. This will align with the upgrades of their main operating platform, ‘Core’ which manages daily operations, including quoting, client management, billing and supply-chain management.,50907261.html

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