Staycity bullish for new year as six new sites announcedPublish date: Sun 07 Jan, 2018
Following a positive trading year and 12 months of significant growth Staycity Aparthotels has announced a further six new property openings for 2019/20.
Finance director Colm Whooley said that Staycity expected 2017 turnover to have grown by 25%, with strong profit margins remaining in line with that of previous years.
“Last year’s results will show growth in turnover and profits for the group,” he said. “During 2017 the board signed off on the company’s five year business plan which will see us operating 15,000 keys by 2022.
“Brexit and general economic environment have remained a risk but we have attempted to reduce that risk where possible with a strategy of growing the business across a number of markets and actively managing currency exposure through foreign exchange hedging,” he added.
During 2017 the Dublin-based company opened aparthotels in Marseille, Lyon and Manchester as well as revealing details of a new premium brand, Wilde Aparthotels by Staycity, the first of which will open in London this Spring, with a second to follow in Edinburgh in 2019.
Later this year Staycity will open in Liverpool’s Corn Exchange building in the heart of the city’s commercial region close to James Street Merseyrail Station, Albert Dock and the leisure development Liverpool One. The property is made up of 212 one- and two-bed apartments.
Further new locations with scheduled openings for 2019 include a prestigious 284 key aparthotel near Disneyland Paris, with 284 apartments, swimming pool with bar and deck, full restaurant, café and lounge area, bar, 183 parking spaces and lakes and gardens. The development is adjacent to Euro Disney and is situated in the busy Val d’Europe area.
The company will open in the Venetian mainland suburb of Mestre, part of the territory of the city of Venice, in early 2019 with 175 units. The location is often the preferred starting point for tourists visiting the historic city.
The year will also see the opening of a prestigious Wilde Aparthotel in Central Berlin. The 48-apartment building is one of two Staycity properties opening in the German capital.
Another site will be added to the group’s Dublin estate in 2019 when it opens in Chancery Lane in the city centre, with 50 apartments. A further 142 apartment building will open its doors on Mark Street in 2020. By 2021, the company expects to have 1,500 keys operating in Dublin.
Preliminary work is also underway on a third Manchester property in St Peter’s Square, expected to open at the end of 2019 with 250 apartments.
“These aparthotels are all in fantastic locations and offer exciting opportunities for us to grow our brand and our estate. The company now has the right team in place to enable and facilitate this expansion, although we look forward to recruiting locally for each of our new properties over the course of the next 12 months,” commented Staycity CEO and founder Tom Walsh.
“This year will be a pivotal one for Staycity with several more deals about to be signed on sites across Europe, as well as the opening of our first Wilde Aparthotel,” he added.
About Staycity Aparthotels
Staycity Aparthotels is a privately held company based in Dublin offering quality short-term and long-term apartment and aparthotel lettings in central city locations. These include Dublin (179 apartments), Edinburgh (146), Manchester (266), Liverpool (56), Birmingham (249), London Heathrow (269), London Greenwich (166),Paris (50), York (197), Marseille (108) and Lyon (144). With a total estate (pipeline and operating) totaling over 6,500 apartments the company is on target to achieve its stated aim of 15,000 apartments by 2022.
Staycity Aparthotels was founded in 2004 by Tom Walsh and his brother Ger, starting with a single apartment in Dublin’s Temple Bar, a former recording studio used by the likes of U2.
With an active European expansion plan Staycity has quickly established itself as one of the leading aparthotel operators. Projected annual turnover for 2018 is expected to reach €70m.
Staycity’s properties are made up of studios, one-bedroom and two-bedroom apartments offering 24-hour reception, fully equipped kitchens or kitchenettes, a dining area, sitting area and bathroom. Additional features include complimentary Wi-Fi access, flat-screen TV and guest laundry facilities as well as weekly housekeeping. Most sites have private car parking facilities and many offer a dry gym. All latest generation properties, such as London Heathrow, York, Birmingham Newhall Square, Lyon and Marseille have a guest lounge/café for breakfast, all day snacks and beverages.
In 2015 Staycity Group won the Industry Breakthrough Award at the Association of Serviced Apartment Providers (ASAP) Annual Awards and was inducted into the Tripadvisor Hall of Fame. In 2016 the company was highly commended in the Serviced Apartment Business of the Year Award, Corporate category (ASAP Awards). In 2018 Staycity won the Best Operator Award (201+ apartments) in the Serviced Apartment News Awards.