An evaluation of interior styles in the serviced apartment sector in Nairobi

Abstract

Background/Introduction: Serviced apartments became increasingly popular in the market recently, especially in Nairobi due to a number of factors like their relative affordability as compared to hotels, the home away from home feel, security and spacious units. However, there is an oversupply of hospitality space with an annual bed capacity of 20 million of which only 5.8 million were occupied in 2015 (Cytonn Hospitality report, 2017). This creates a supply and demand gap which has a negative outlook in regard to serviced apartments in both the real estate and hospitality sector.