SERVICED APARTMENTS At a time when the retail world is struggling, we continue to come across conversion opportunities as former department stores come onto the market” BRIDGESTREET MODE the wider development will add new life to the town centre,” says co-founder of Cycas, John Wagner, who draws parallels with Cycas’s Holiday Inn/Staybridge Suites in London’s Stratford, where guests benefit from the Westfield shopping mall on the doorstep and the hotels benefit from the retail teams that visit the stores. “At a time when the retail world is struggling, we come across conversion opportunities as former department stores come onto the market,” he explains. “We’re increasingly seeing that incorporating hotels into mixed-use developments and regeneration schemes can help inject new life into town centres.” Great technology, smaller rooms and more focus on mid-term stays contrast with reduction in average length of stay, possibly reflecting a more cautious approach and reduced confidence, thanks to Brexit. <strong>The</strong> ‘B-word’ has also seen some businesses holding fire on projects, pending the outcome of the negotiations, and while shorter lead times put on pressure, an appetite for new brands (SACO's Locke, for example) maintains the buzz. Globally, Oakwood sees huge potential in Africa, particularly the Nigeria-Kenya belt, and like many in the sector is focusing on emerging markets and key gateway cities in Europe such as Frankfurt, Paris, Dublin, Amsterdam, Geneva, Warsaw and London, plus other UK cities. And although many companies continue to focus on cost, a worldwide upsurge in growth markets is transforming the global economy, leading to corporate demand for extended travel and long-term relocation programmes. In addition, “Multi-family housing (US) or private rental sector (UK) is of growing interest to developers,” says TAS’s McCrow. Access (Accor): Saclay, Montpellier. Adagio: Paris, Lille, France; Casablanca, Morocco; Bremen, Germany; Sutton, Leicester, UK; Doha, Qatar; Jeddah (x2), Jizan, Saudi Arabia. Cheval Residences: London – Gloucester Park reopens after a 20-month refurbishment. Element: Frankfurt Airport. Frasers Hospitality: Fraser Place Puteri Harbour and Capri by Fraser Johore Bahru, Johor, Malaysia; Fraser Residence Orchard, Singapore; Fraser Suites Hamburg; Fraser Suites Akasaka, Tokyo; Capri by Fraser Liepzig, Germany. House of Fisher: Fleet Serviced Apartments, UK. Native: Native Manchester, with openings to follow in Birmingham, Bristol and Leeds. Oakwood: <strong>The</strong> Oakwood Showroom, Singapore, heralding the next generation of serviced apartments; Oakwood Arlington, Virginia, US, Oakwood Chicago River North, Illinois, US. Oakwood Apartments, Sanya, China; Oakwood <strong>The</strong>se large residential buildings can be compared to the mansion blocks in London such as Chelsea Cloisters, Nell Gwynn House or even Grosvenor House. <strong>The</strong>y offer more services than the typical residential landlord, including bicycle stores, gyms, reception desks with porterage, function rooms and support services such as cleaning and highquality concièrge. “<strong>The</strong>se will typically be long-term rentals but this is a rapidly growing sector in the UK specially,” explains McCrow. More controversially, Cheval’s George Westwood suggests the sector could [ NEW BRICKS IN THE WALL ] A selection of confirmed openings for <strong>2019</strong> Hotel & Residence Phnom Penh, Cambodia; Oakwood Residence Hanoi, Vietnam. Quest Apartments: Liverpool, its first location outside Australia. Roomspace: Lisbon, Portugal; Madrid, Spain. Roomzzz: Harrogate, York and Liverpool. Staybridge Suites: Heathrow Airport. Staying Cool: Manchester. Staycity: Wilde aparthotel, Edinburgh; Marne la Vallée, near Disneyland Paris; Venice, Berlin and Manchester follow. SACO: Broken Wharf, London. <strong>The</strong> Ascott Limited: Citadines Islington London, UK; Citadines Sloterdijk Station Amsterdam, NL; Citadines Confluent Nantes, France. YotelPAD: San Francisco; London Clerkenwell, Edinburgh, Glasgow, UK; Istanbul Airport; Singapore Changi Airport; Amsterdam, NL; Dubai <strong>Business</strong> Bay, UAE; Porto, Portugal. • Space prevents a broader list of activity but brace yourself for 2020… become more relaxed in its approach: “We will start to see a mixture of short- and longterm stay, five-star and four-star properties with common areas and a community workspace such as WeWork all under one roof. Consumers are driving this change.” To cater for the demands of consumers and the speed at which the market evolves, operators and developers are going to have to be nimble to keep up. Technology will continue to play a major role in the industry but service is also essential – robotic vacuum cleaners may make customers smile but robotic receptionists will not. 32 THEBUSINESSTRAVELMAG.com
stay with us BIRMINGHAM · DUBLIN · EDINBURGH · LIVERPOOL · LONDON · LYON · MANCHESTER · MARSEILLE · PARIS · VENICE · YORK FOR RESERVATIONS CALL: +44 203 499 0748 · STAYCITY.COM TAKE A WALK ON THE WILDE SIDE Wilde brings bespoke creative design led studio apartments to <strong>The</strong> Strand, London. Inspired by the wit of Oscar Wilde, it’s where you will escape, unwind, cook and work in beautiful spaces designed to evoke your curiosity. Book now at STAYCITY.COM/WILDE ESCAPE ORDINARY - Coming <strong>2019</strong> - Berlin - Edinburgh Untitled-1 1 22/03/<strong>2019</strong> 09:58
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