Capital Gains

The London serviced apartment market has always been a competitive one, but things are really hotting up at the moment. The sad recent demise of  City Marque was perhaps an indicator of the dangers of expanding too rapidly – other factors in the market are intense competition for sites and the undoubted influence of professional landlords with multiple units on Airbnb. Recent research from the British Hospitality Association found that 40 per cent of all Airbnb listings in London are multiple property owners renting accommodation on a short-term basis year-round.

In an interesting move announced, Cycas Hospitality has been boosted to become the second largest operator in London in terms of units under management after being appointed to operate Starwood Capital’s portfolioof 640 units.  Marlin Apartments occupies top spot, with SACO, Ascott and Staycity making up the top five. It’s going to be a busy year in the capital and it will be fascinating to see how this list could change in the next 12 months.