The Growing Trend of Aparthotels in the Property and Hospitality Sector.

Aparthotels, a hybrid of apartments and a hotel in a single building have been experiencing a growing trajectory within the property and hospitality industry. These unique accommodations, which seamlessly blend the comforts of a hotel with the spaciousness and independence of an apartment, have emerged as a unique and preferred choice for travellers seeking a more personalized and flexible stay experience. Aparthotels offer a distinct alternative to traditional hotels, catering to a diverse range of travellers, from business professionals and digital nomads to families and leisure seekers.

In this article, I will discuss and dive into the history, features, benefits, investment opportunities, and future outlook of aparthotels. I will be exploring the factors driving their growing popularity and examining the unique value proposition they offer to travellers and investors alike.

A Brief History of Aparthotels

The concept of aparthotels can be traced back to the early 20th century when extended-stay hotels started offering more spacious accommodations with kitchenettes and living areas. However, it wasn't until the mid-20th century that aparthotels began to emerge as a distinct hospitality segment. The rise of business travel and the increasing demand for longer stays contributed to their popularity.

Unique Features of Aparthotels

Aparthotels stand out from traditional hotels due to their distinctive features such as:

Spacious Accommodations: Offering more space than standard hotel rooms, aparthotels often include separate living areas, dining areas, and fully equipped kitchens.

Long-Term Stays: Designed to accommodate guests for extended periods, aparthotels are ideal for business travellers, digital nomads, and families.

Home-Away-From-Home Comfort: With amenities like laundry facilities, on-site parking, and concierge services, aparthotels provide a comfortable and convenient home away from home.

Flexible Stays: Aparthotels offer greater flexibility compared to traditional hotels, allowing guests to choose from various stay durations and room configurations.

Benefits of Staying in an Aparthotel

Staying in an aparthotel offers several advantages including;

Cost-Effective: Aparthotels can be more cost-effective for longer stays, especially when compared to traditional hotels.

Privacy and Independence: Guests enjoy greater privacy and independence in aparthotels, as they have their own space to relax and cook meals.

Flexibility: Aparthotels cater to a wide range of travellers, from business professionals to families, offering flexible options to suit different needs.

Convenience: If you’re looking for a change of scenery without going far away, aparthotels have shared spaces including co-working areas, gyms, bars, coffee shops and restaurants which are just a few steps away.

Leading the way and Pushing the Envelope in the Zimbabwean Property Sector

As WestProp Holdings we pride ourselves in being a company of the future that is innovative and introduces new product categories to the Zimbabwean property market.

The new kid on the block, Millennium Heights Block 5, will bring the first aparthotel in Zimbabwe and usher in a new standard of living and luxury when travelling. The project, which is expected to commence in the first quarter of 2025 will see the construction of a five-star apartment hotel at Millennium Heights.

The aparthotel’s unique selling point is that owners can be investors in the project; thus growing their investment portfolios and reaping double-digit returns on their investment.

This iconic development will offer unparalleled luxury, convenience and exclusivity for those staying at the aparthotel. They will enjoy amenities such as a rooftop pool, gym, restaurant and a clubhouse.

Millennium Heights block 5 will have 148 apartments (studio and 1-bed apartments). These are available to buy for personal use (suitable for anyone looking to live at Millennium Heights) or through flat shares, where the remaining apartments will be put in a rental pool that is managed by WestProp’s hotel management arm; which will be created to oversee the day-to-day running of the aparthotel.

It goes without saying that this new product offering will create jobs, give residents and tourists a unique living experience, as well as give investors returns on their investments. This win-win-win situation shows WestProp’s commitment to build Zimbabwe 1 brick at a time and create lifestyle communities that add value.

Investment Opportunities in Aparthotels

Investing in aparthotels can be a lucrative venture. Here's why:

Steady Income Stream: Aparthotels generate a steady income stream through long-term leases and short-term rentals.

Appreciation Potential: As the demand for aparthotels continues to grow, property values are likely to appreciate over time.

Tax Benefits: Investors may be eligible for tax benefits associated with owning rental property.

Diversification: Investing in aparthotels can help diversify your investment portfolio.

The Future of Aparthotels

The future of aparthotels looks promising. As the trend toward flexible work arrangements and remote work continues, the demand for aparthotels is expected to grow. Additionally, the increasing popularity of travel for extended periods, such as digital nomad lifestyles, will further drive the demand for these unique accommodations.

With the first aparthotel in Zimbabwe, we can put ourselves on the map as a viable destination for all types of tourists visiting Zimbabwe for work or leisure.

Conclusion

Aparthotels provide a unique blend of comfort, convenience, and flexibility that caters to the needs of modern travellers. With their spacious accommodation space, fully equipped kitchens, and home-like amenities, aparthotels offer the luxury of hotel living with the independence of apartment living under one roof.

For investors, aparthotels represent a promising opportunity. The growing demand for flexible accommodations, coupled with the potential for long-term leases and steady rental income, makes aparthotels an attractive investment option.

With this new project on the horizon, we are slowly but surely realising the "1 billion bricks by 2050" vision and Bringing Dubai to Zimbabwe!

Disclaimer: The articles presented on this platform are purely a reflection of personal subjective opinions. They are not to be regarded as expert advice but rather aim to share ideas and opinions. Readers must exercise their own judgement and discretion when interpreting the content provided. Any decisions or actions taken based on the information presented in these articles are solely the responsibility of the readers.