IN BRIEF


■ Following its merger with US- based Oaktree Capital Management’s serviced apartment business, SACO next year launches its new Beyonder aparthotel brand. First to open, in February, will be an 80-unit property in London’s Cannon Street, followed by properties in Edinburgh, Glasgow and Aberdeen.


■ Staycity, which will open a 174-apartment property in Birmingham’s Jewellery District in November, will add 106 studio apartments in London’s Covent Garden next year, when it also plans to open further properties in London, Manchester and York.


■ Prestige Above: Staybridge Suites, Liverpool. Below: SACO, Bristol Broad Quay


new units will come on stream, nearly 2,000 of them in the UK – and the list is not comprehensive. So what do the providers themselves


think of the state of the market? Ben Harper, sales director at SACO, has no doubts about the prospects. “The landscape has changed in the last 12 months alone,” he says. “All the efforts and commitment to raise awareness and demand for our serviced apartments over the last decade have come good; the property investment community now sees serviced apartments as an exciting asset class. SACO’s merger with Oaktree is a case in point and gives us the opportunity to invest and develop. “Supply will increase and clear industry leaders will emerge, creating brand clarity, awareness and competition, which from


BUYINGBUSINESSTRAVEL.COM


“All the efforts and commitment to raise awareness and demand for our serviced apartments over the last decade has come good”


a corporate buyers’ perspective can only be a good thing. “We will see serviced apartment


providers push for a larger share of the overall hospitality mix, investing in brand,


BBT SEPTEMBER/OCTOBER 2015 105


Apartments has moved into the award-winning Cube Building in the City of London’s Banyan Wharf. Overlooking part of the Regents Canal conservation area, the nine one- and two-bedroomed apartments are spread over five floors.


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