interview


fact that you can make yourself a coffee when you want, cook a meal when you want, if you want – without being tied to restaurant dress codes or opening hours - is the sort of experience today’s traveller is looking for. The latest performance statistics from


the Association of Service Apartment Providers (ASAP) and STR show that in the first half of 2018 the UK’s serviced apartment sector saw a year-on-year increase in their average daily rate (ADR) of 1.2 per cent to £140.28, despite a marginal fall in occupancy of 0.6 to 79 per cent. This pushed RevPAR (rooms revenue per available room) up by 0.6 per cent to £110.84. ASAP and STR attributed the decrease in


occupancy across the sector to the high level of new supply coming on stream, but while the pipeline for aparthotels/serviced apartments remains strong, demand remains high.


Q. How have customers’ needs changed? I think it’s important to keep our offer fresh, which is why we update our design from time to time and review our offer. We pay a lot of attention to guest feedback and we’re delighted that our overall guest scores on GRI have gone from 79.3 per cent in 2012 to 88 per cent in 2018. As customers become increasingly familiar


Public areas are fun and quirky in the lastest properties


More operators now occupy this space and guests are more familiar with the concept than they once were, which has inevitably pushed standards higher across the board. I think the convenience and freedom of


aparthotels as well as their home-from- home feel is what appeals to guests. The


with the aparthotel concept it’s important to meet their changing needs. Free high- speed broadband, our Staycafé, guest lounge, fitness room, laundry room and parking facilities have all become our brand standard, where space allows. I’ve never wanted Staycity to stand still; we are constantly moving forwards, innovating and expanding the relevance of our brand. It’s vital to do this to survive and prosper in this marketplace.


Q. What’s the future for serviced apartments post-Brexit? For us it’s business as usual, and while the impact of Brexit is a concern, it’s very much an unknown at the moment until the UK’s official withdrawal and the deal surrounding that is confirmed. We are


increasing our stock in Dublin, our home city, and if we do see an exodus of companies from London to Dublin we will be well placed to service them. Our plans for expansion across Europe and the UK will not change.


Q. What’s next for Staycity? We now have around 7,000 apartments [operational and pipeline]. Our target is to grow to 15,000 operational apartments by 2023 and we are on line to do this. So it’s onwards, and upwards!


www.staycity.com


In the pipeline


Staycity started 2019 with news of a new 620-room hotel and aparthotel complex in Paddington. The company will be joint tenants of the scheme, which is expected to open by 2021.


“The Paddington development will house both a Wilde Aparthotel and a Premier Inn, although the operation will be quite separate, each with their own dedicated entrance and reception. In fact the only shared space is the fire exit and service area,” says Walsh.


Staycity is also involved in the development of the building through a joint venture. This is the first time it has moved into the development arena and is something it will focus on more in the future.


Meanwhile, construction gets underway this month on the redevelopment of the Tivoli Theatre site in Dublin city centre. The Tivoli Regeneration Project, for which planning permission was secured in 2018, is a major urban regeneration scheme consisting of a 242-apartment Staycity Aparthotel, restaurants, retail and exhibition centre. It is expected the property will be completed and ready to open in November 2020.


Staycity and DWS, which acquired the property on behalf of one of its institutional funds, will develop the site in partnership, with Staycity taking a 25-year full repairing and insuring lease with inflation linked five year rent reviews. The gross development value of the project is in excess of €70m.


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