UK: Serviced apartment operator Staying Cool has announced a partnership with leading UK hotel group Bespoke Hotels.
The partnership aims to expand the Staying Cool brand across Britain and beyond,
and involves a minority equity stake, a co-development agreement
and the appointment of Bespoke co-founder and chairman Robin
Sheppard, as chairman of Staying Cool.
The alliance will see the two companies looking at opportunities including the joint development of new sites across the UK as either dedicated aparthotels or mixed-use sites combining both hotel and serviced apartments.
Robin Sheppard, who has taken a minority equity stake in Staying Cool, said: "This partnership is a first for the UK. At Bespoke we see the rapid growth of the serviced apartment sector as a significant market opportunity rather than a threat to established hotels. With its focus on design, innovation and customer service, Staying Cool is one of the most exciting apartment brands we could hope to partner with. We believe they offer something unique and rather special in the serviced apartment space. They boast rave customer reviews, while their award-winning track record speaks for itself."
The co-founding directors of Staying Cool, Tracey Stephenson and Paul Taylor, said: "We are delighted by this deal and what it offers. Having a strong, like-minded and dynamic partner will help accelerate our plans for growth. The serviced apartment sector has a real buzz about it, attracting significant investment interest as well as appealing to a growing customer base. With Robin's experience and the added firepower of Bespoke alongside us, we are in pole position to take the business to the next level and to ensure that Staying Cool reaches its full growth and brand potential over the coming years."
Bespoke Hotels represents more than 170 properties worldwide, and recently announced a deal with IFA Hotel Investments to enter the Middle East serviced
Staying Cool was established in 2008 to "bridge the gap between boutique hotels and holiday rentals". The company's prime property is a very stylish 30 unit apart hotel at Birmingham's iconic Rotunda.