Joanna Cross: How data is powering the industry

This summer, Ariosi’s Global Serviced Apartment Industry Report (GSAIR) celebrated 10 years of insight and analysis. Here, COO of Ariosi Joanna Cross discusses why data is vital and how it’s being put to use

Data-driven decisions are steering the serviced sector. In a world governed by algorithms, projections and mathematical models, it’s no surprise. However, there were times when life was simpler. “I started working in hotels in the late ‘90s, to pay my way through design school,” explains Joanna Cross. “I did a stint at a design agency, realised it wasn’t for me, moved from Sydney to London and started working at a hotel that had a serviced apartment arm. That was the start of my temporary living career.”

Having fallen into the hospitality and accommodation sector, Joanna built a formidable career over the course of two decades, now managing the operations of data-led consultancy Ariosi. Via three core pillars – consult, insight and train – the business provides informed analysis, unique takes and key skills to the sector.

“Ariosi was launched in response to a gap we identified in the serviced apartment market,” Joanna recalls. The company’s Group CEO Stuart Winstone saw an opportunity to create a service offering in response to an existing stream of enquiries and requests. “They came from within our network – operators seeking advice, investors requesting market intel and developers requiring deeper product understanding,” Joanna adds.

The consultancy now produces several reports including the Global Serviced Apartment Industry Report (GSAIR) which turned 10 this summer. Among other insights, the report revealed that the serviced sector has now enjoyed 15 years of consecutive growth.

“Having up-to-the-minute data and insights is hugely beneficial for anyone touching serviced apartments, particularly those operating them,” Joanna asserts. “Getting your hands on as much intel as you can to support decision-making, even if it disproves a theory or business plan, should be a fundamental part of any serviced apartment business.”

Following a commendable return to form in 2022, operators are now experiencing what Joanna refers to as a cooling-off period. Influenced by a multitude of factors, it has been a troubling time for those working with thinner margins. However, Joanna notes that it’s also a time to regroup, refresh and remember the lessons learned during the pandemic – when the serviced apartment sector showed its resilience.

“Getting your hands on as much intel as you can to support decision-making should be a fundamental part of any serviced apartment business.”

- Joanna Cross, COO at Ariosi

That said, operators are now negotiating a series of hurdles. These include regulation, licensing, compliance and investment as well as spiralling costs and changes in buyer demand. “Our sector is facing an increasingly complex and challenging landscape,” Joanna affirms.

Operators are also working to improve their sustainability credentials and navigating the demanding business practices this requires. Joanna notes that the sector is rightly being held to account and she has witnessed a cooperative response. “The big picture is less about getting the edge over your closest competitor and more about collaborating and knowledge-sharing in the interest of the collective good.”

“Our sector is facing an increasingly complex and challenging landscape.”

- Joanna Cross

At such an important juncture for humanity, data, and the cooperative, collaborative use of it, will only serve to aid progress. “I hope we can look back and be proud of the positive changes we made instead of suffering regret,” Joanna muses.

Other than providing a considered set of services to a highly specialised industry, part of what has made Ariosi so successful is its ability to remain agile.  “We’re able to respond to changes in the market and adapt to shifting client requirements,” Joanna says.

“Turning a hypothetical product into a tangible service has been a real thrill. We’re learning and developing too. We’ll continue to evolve, taking a methodical and organic approach to our offering.”

As a dynamic sector, Joanna is confident that operators, developers and investors can meet the challenges presented to them. “I’m optimistic and very excited about the future of serviced apartments,” she enthuses. “We’re incredibly lucky to work in a sector full of talent, ideas and possibilities.”

This summer, Ariosi published reports GSAIR and GSAIR EMEA, with GSAIR APAC and GSAIR Americas to follow.