STAYCITY GEARS UP FOR TWO KEY OPENINGSPublish date: Wed 25 Feb, 2015
Leading aparthotel operator Staycity is to open two new premises this year – in Lyon and Birmingham.
Staycity Birmingham will open in July 2015 in the city’s prestigious Newhall Square, site of the historic Jewellery Quarter. The premises will consist of 172 one- and two-bedroom apartments.
Said CEO Tom Walsh: “We are delighted to be opening in both Lyon and Birmingham, continuing our on-going European expansion strategy. Birmingham is one of the most important business and leisure centres outside London. This property will give us a stronger foothold in the city as the demand for serviced apartments grows.” The company’s Lyon site will house 144 apartments, opening in June 2015. Lyon is the third largest city in France and a centre for commerce, industry and banking.
Dublin-based Staycity now operates over 1,000 apartments in eight European cities including Birmingham, Dublin, Edinburgh, Liverpool, London Heathrow, London Greenwich, Manchester, Paris and Amsterdam. The company is on target to expand to 5,000 apartments over the next five years.
Last year Staycity acquired a site in London’s Covent Garden giving it a total confirmed development pipeline of 1,000 apartments due to open by the end of 2016.
A further 161 apartments opened for business in 2014 across two buildings in London Greenwich.
The UK’s fast expanding serviced apartments sector, the umbrella term for apartments available for short-term or long-term stays, generates over £500m of revenue and handles three million accommodation nights per year.
Serviced apartments represent 12% of overnight accommodation in London alone, a figure that is predicted to reach 14% in 2015.