towards serviced apartments and hotels, and hopefully, they will all meet soon,” he says. Go Native’s entry into the BTR sector is one example, with buildings in Manchester, Croydon and three in London. The company is seeing a crossover with apartment needs: “A lot of business comes from corporate relationships – someone from PwC who stays with us in serviced apartments for three months and gets extended, so they turn a short-term booking into a long-term tenancy,” says marketing and customer experience director Amanda Metcalfe. “PwC has a flying start programme for graduates who live in our new building in
Dalston for six months. It has put people there because it is more affordable than an aparthotel,” she says. “BTR and serviced apartments are complementary and can offer corporate clients a great opportunity.”
Top: Bridgestreet’s Stüdyo in Paddington, London, has a communal kitchen and dining area. Bottom: Oakwood Studios in Singapore is aimed at younger travellers
Other examples of changing business models are management contracts and franchising. Bridgestreet has agreed a management contract to operate Stow-away, and Cheval Residences is venturing abroad, starting with a management contract to run a property in Qatar, which opens in three years’ time, with other possibilities in the Middle East, Germany and Montenegro. Ascott signed a franchise agreement for two Citadines in Sao Paulo, opening Q4 2017 and 2020, with two more planned for Strasbourg and Nantes. “For markets where we already own and manage properties in Europe and Latin America, franchising will be one of Ascott’s growth drivers for the future,” says its London area manager, Marc Sandfort. Aparthotel operator Adagio (a joint venture with hotel group Accor), is also pursuing this route, starting with Adagio Leicester Waterfront, which opens in 2019 and will be co-branded with Novotel. Other franchise properties will follow. Accor may be the grand master of co- branded properties, but Cycas now also claims this as an area of expertise, with construction starting on Residence Inn/ Moxy hotels in Slough, Amsterdam and The Hague, Crowne Plaza/Staybridge Suites in Manchester and potentially a different brand twinning in Paris.
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