Serviced Apartment News revisits 10 stories that defined 2023 for the global serviced apartment, extended-stay hotel, aparthotel and corporate housing sectors.
• SilverDoor launches carbon calculator for corporate housing
Worldwide: Serviced accommodation provider SilverDoor has launched a carbon calculator sustainability tool for the global corporate housing sector.
The calculator will collect carbon emissions data to allow clients to set, monitor and report on their business travel sustainability goals.
It has been built with a specific focus on water and energy consumption, including a per-night CO2 emission estimation for each apartment and the wider building. Electricity, gas and oil use, as well as the total area of climate-controlled space, water consumption and laundry management will be measured.
Read the full story here.
• NUMA purchases YAYS for undisclosed terms
Germany / Netherlands: Digital hospitality platform NUMA Group has announced the acquisition of Dutch serviced apartment platform YAYS from Proprium Capital Partners.
NUMA Group has acquired 100 per cent of YAYS, although the purchase price was not disclosed. The transaction was supported by DLA Piper, CBRE and EY on the sell side and Greenberg Traurig, Taylor Wessing and Eight Advisory on the buy side.
Headquartered in Amsterdam, YAYS currently operates 489 units in the Netherlands, Belgium and France and a secured pipeline containing properties to be opened in Madrid, Frankfurt and The Hague, with an additional 124 units.
Read the full story here.
• Locke co-founders leave business after nearly 10 years
UK: The founders of lifestyle aparthotel brand Locke, part of hospitality group edyn, have announced they will depart the business after almost 10 years.
Investment director Merzak Kaddour, group acquisitions director Andrew Fowler, and chief development officer and creative director Eric Jafari, have announced they will move on from edyn after co-founding the company’s Locke lifestyle aparthotel brand almost 10 years ago.
Kaddour, Fowler, and Jafari initially co-founded the Urban Villa aparthotel brand which launched in 2014.
Read the full story here.
• AKA appoints chief operating officer
US/UK: Luxury hotel and residence brand AKA has named T. Blake Danner as the group’s chief operating officer.
Danner joins AKA from Proper Hospitality where he led the company’s business strategy, growth and development. Prior to this he was the founding COO of Sydell Group and opened 11 hotels in seven years, working with brands such as The NoMad, The Line, Saguaro and Freehand.
Additional experience includes nearly a decade with Ian Schrager Hotels and Morgan’s Hotel Group.
Read the full story here.
• Flex living brand Habyt enters aparthotel sector with The Waterfront
Germany: Flexible living operator Habyt has opened its first short and long-stay hotel in Europe with The Waterfront in Berlin.
Located in the centre of Friedrichshain, Habyt – The Waterfront offers short and long-term stays across 236 studios. The majority of the apartments will cater to short-term stays whereas 92 of the studios are dedicated for stays of more than three months. All rooms come with a queen size bed, working area, kitchenette, Smart TVs, and a bathroom with toiletries.
Guests will have access to all floors of the building, with communal space located on the ground floor. Amenities include coworking space, private meeting rooms, a shared kitchen, and a cafe.
Read the full story here.
• Staycity launches room type as corporate demand bounces back
EU: Aparthotel operator Staycity has reported a return to pre-pandemic levels of corporate business and is responding to the demand with the introduction of a new room type.
In June 2023, Tuesday and Wednesday room nights showed a 10 per cent increase on June 2019. Overall, the group’s managed business segment has seen a like-for-like rise of 93 per cent on room nights year-to-date.
Staycity attributes the growth to its structural reorganisation, having created additional roles and departments within its commercial sales team as well as targeting new areas of business.
In response to the demand, Staycity has introduced a new room type – a 24 square-metre studio which offers additional storage space, a dedicated work area, and a fully-fitted kitchen. Over time, Staycity anticipates this category to account for 40 per cent of the company’s inventory.
Read the full story here.
• Hilton launches Project H3 extended stay brand
US: Hilton has launched a lower midscale extended stay brand aimed at guests staying for 20 nights or more.
Launching in the US under the working title Project H3 as Hilton navigates the final stages of the trademark process, the brand is designed to meet the needs of the rapidly expanding $300 billion workforce travel market – which Hilton describes as “the long-stay guest that never stopped travelling, even throughout the pandemic”.
“Project H3 is perfectly positioned to serve the unique needs of the long-stay traveler, thanks to its innovative design, strong value proposition for our owners and of course, the hospitality our team members offer every day,” said Chris Nassetta, president and CEO, Hilton. “We aim to serve any guest, anywhere in the world, for any travel need they may have, and this new brand represents a greater opportunity for us to grow our portfolio while providing the reliable and friendly service our customers expect from Hilton,” he added.
Hilton says its research shows long-stay travellers, including traveling nurses, military personnel, and those experiencing workforce relocations, “value the simple things in life, placing quality time and comfort above all else”. In addition, those looking for a long stay will book an average of 20 or more nights and “desire a reliable home base that allows them to maintain their routines while delivering simplicity, consistency and convenience”.
Read the full story here.
• Fitch backs ECHO to drive Wyndham’s growth
US: Ratings agency Fitch has assigned first-time ratings to Wyndham Hotels & Resorts, including a Long-Term Issuer Default Rating (IDR) of BB+.
Fitch has assigned issue level ratings to Wyndham’s senior secured debt of BBB-/RR1 and senior unsecured debt of BB+/RR4. The Rating Outlook is stable.
The rating reflects Fitch’s expectations that EBITDAR leverage will remain in the 4x range throughout the forecast period.
Fitch says Wyndham’s asset-light operating model, which is primarily focused in the select-service space, had demonstrated strong results through the cycle. “The flexible cost structure of the recurring fee-based income produces attractive margins and experiences less cash flow volatility during economic downturns,” it said.
Read the full story here.
• Rotana to make UK debut with SW London serviced apartments
UK: Dubai-based hotel group Rotana will open two properties in Greater London under its Centro economy segment brand.
The first two properties, Centro New Malden and Centro Kingston, will launch as part of a wider agreement to develop up to 1,500 keys over multiple sites across the Greater London region, all under the Centro brand.
Centro New Malden will feature 70 apartments furnished to a four-star hotel standard with fully equipped kitchens and separate living and bedroom areas. Centro Kingston will feature 31 apartments “each designed to maximise space, light and efficiency including smart technology and in-room entertainment”.
Guy Hutchinson, president and CEO of Rotana, said: “This is a fantastic milestone for Rotana, and we are delighted to be partnering with CNM Estates to bring our award-winning hospitality services to the United Kingdom. London remains one of the world’s largest business hubs and a key market for us as we continue expanding our footprint globally. Launching in two vibrant locations in London, both properties will welcome guests to enjoy the diverse offerings of the city while having unique living spaces that provide both finesse and functionality. We look forward to continue building our success story, in line with our mission to deliver ‘Treasured Times’ to our guests across the world.”
Read the full story here.
• Special Report: Sustainability in the extended stay space
Ticking the sustainability box means much more than staying in a serviced apartment with no plastic shampoo bottles. Felicity Cousins looks into what operators, suppliers and developers are doing to address sustainability for now and the future.
The built environment is responsible for approximately 40 per cent of the UK’s carbon emissions, and the hospitality industry is currently responsible for 1 per cent of all global carbon emissions.
Todd Lundgren, principal at CallisonRTKL, a global architecture, urban planning, design and creative services organisation says: “With the proliferation of global climate agreements, science-backed initiatives, and the fact that the construction industry accounts for 40 per cent of the world’s carbon emissions, minimal carbon cuts are no longer enough to make a case for ESG.”
ESG will drive much of the demand for transparency in the sector and there is no doubt the extended stay sector is ramping up its investment in sustainability. At SAN we often report on these sustainability efforts, across the world. For example, in November last year The Ascott Limited unveiled its sustainability framework after achieving the Recognised Standard by the Global Sustainable Tourism Council (GSTC), Situ was awarded a carbon neutral standard after launching its Be More Starfish ESG programme. Carbon neutral aparthotel group Beyond revealed the work behind its Sustainable Wellness room for this year.
Read the full story here.
Join IHM’s editor-in-chief George Sell and SAN editor – hospitality Eloise Hanson in the final webinar of the year, Thursday 14th December 2pm GMT. The SAN team will reveal their five trends set to shape the serviced apartment industry in 2024.
Hear from industry experts on each of the five trends:
• Ben Russell, acquisition and investment director, The July Group
• David Wright, portfolio development manager and sustainability officer, Mansley Serviced Apartments
• Giles Horwitch-Smith, CEO, Res:Harmonics
• Phil Stapleton, CEO and co-founder, Situ
• Vedrana Riley, CEO, Ciel Capital
Register at no-cost here.
