SACO set to double in size over the next two yearsMonday 07 December 2015 by Jasmine Trickey SACO is rapidly expanding and developing, with six new openings in the UK & Ireland on the horizon including new Aparthotels in London, Edinburgh and Aberdeen. Our first new property, on London’s Cannon Street, is due to open spring to mid-2016.
The findings of a new report by Savills and The Association of Serviced Apartment Providers (ASAP), were released on Friday, confirming that the serviced apartment sector is the UK’s fastest growing hospitality segment and is predicted to double in size by 2018.
We’re excited to be at the vanguard of this change and growth, and aim to raise public awareness of the Aparthotel concept and hybrid living.
Stephen Hanton, CEO of Commercial, says: “Demand from business and leisure travellers for serviced apartments and aparthotels continues to grow strongly and, to meet this, SACO will be doubling in size in the next few years. In the next two years alone, we will be opening six properties in the UK and Ireland, with a particular focus on Scotland where we will open new properties in Edinburgh and Aberdeen.
"Our latest property on London’s Cannon Street opens in the first half of next year, and is designed to be the new industry standard with a choice of around 80 apartments in a variety of sizes, an on-site gym, a communal lounge area for guests to relax and work in, and superfast Wifi throughout.
"We are then planning a series of property openings towards the end of 2016 including our 170 unit at Leman Street, in the City of London - and this is just the start!
"We are also looking forward to expanding our Aparthotel concept across key destinations in Europe, and are already looking at a pipeline of new property acquisitions”