Staycity targets 30 per cent annual growth with European expansion

George Sell George Sell Uploaded 13 February 2014

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Ireland: Dublin-based serviced apartment operator Staycity says it is on target for 30 per cent growth over the next year with new openings in Lyons, Venice and London.

The company currently operates apartments across eight European cities - Dublin, Birmingham, Edinburgh, Liverpool, London, Manchester, Paris and Amsterdam - with a total of over 1,000 apartments. Investment in new sites over the next five years will take the Staycity portfolio to 5,000 apartments by 2019.

CEO Tom Walsh said: "The serviced apartment sector is set for future expansion, driven by the needs of the travelling public. We intend Staycity to become one of the leading brands in the market. Corporate and leisure guests are now becoming more familiar with the benefits of using serviced apartments and we anticipate that the sector's share of the short stay market across Europe will grow significantly over the next five years."

The company says 60 per cent of its revenue comes from leisure customers, with 40 per cent being mid-week corporate customers. The average stay at a Staycity apartment is four days, with 60 per cent of bookings made directly from Staycity's website.

www.staycity.com

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