A short-stay one-bedroom apartment can cost from around £1,715 per week plus VAT at the company's Cheval Three Quays property, but the same apartment can now cost from £876 per week plus VAT when booked for three months or more - a saving of 49 per cent.

One third of Cheval Residences' guests are currently long stay (staying three months or more) and it says the relocation market is of incredible importance. During the first half of 2017 Cheval witnessed an average length of stay of more than 130 days, with some of the residences currently accommodating stays for several years.

George Westwell, director of Cheval Residences, said: "Cheval has positioned itself as a true leader and innovator within the relocation sector by driving and developing five-star service and products which have created industry-leading customer satisfaction levels. We are constantly innovating with new products and services, including developing Cheval Hyde Park Gate with two super-deluxe two-bedroom apartments with a private cinema at the end of 2016. The customer satisfaction that results from that five-star drive can clearly be seen by the fact that three of  Cheval's residences are now in the top four on TripAdvisor in the category of Specialty Lodging."

"We understand what relocation guests need; from having 24 hour concierge desks in all properties to providing a daily and flexible housekeeping service and offering both Cheval mattresses and orthopaedic and hypoallergenic pillows to improve sleep quality. As a result of customer feedback, we now also allow pets to stay at the residences," he added.