Serviced Accommodation Guide 2024 by BMI Publishing Ltd

THE 2024 GUIDE TO

SERVICED ACCOMMODATION

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Welcome

OPENING

DOORS

CONTENTS

Welcome to the 2024 guide to serviced accommodation, brought to you by The Business Travel Magazine

overview

sustainability

technology

An introduction to serviced accommodation and how the sector is meeting the ever-changing needs of corporate customers

An update on major initiatives by serviced accommodation agents and providers designed to help you meet your ESG goals

The latest technological developments that

are making it easier to source and book long-stay accommodation and improve the guest experience

The 2024 Guide to Serviced Accommodation is brought to you by BMI Publishing, producers of The Business Travel Magazine. Print ISSN 1754-8543. 501 The Residence, No. 1 Alexandra Terrace, Guildford, GU1 3DA.UK. Tel: 020 8649 7233 enquiries@bmipublishing.co.uk

INTERVIEW

PROGRAMMES

e check in with Jess Sharpe, Global Sales W Director, CAP Worldwide

Expert tips on why and how you should be incorporating serviced apartments into your travel programme

What's New

guide to the most significant apartment A openings, plus new brands and concepts

DIRECTORY

An essential list of the key industry partners in the serviced accommodation sector to help you choose the best one for you

WRITTEN BY Catherine Chetwynd and Bev Fearis Editor Bev Fearis Publisher Kirsty Hicks editorial Director Steve Hartridge DesigneRS Stuart Crowhurst and Caitlan Francis

KENSINGTON LEVERNE

12 EDMUND DABNEY

hether you're looking at how to incorporate serviced accommodation into your travel programme for the first time, or planning to take your extended-stay programme to the next stage, this is essential reading. Our 12th annual guide has a fresh new look and exciting new features and is packed full of information, insights and advice about this dynamic and fast-growing sector. Serviced accommodation is establishing itself as an increasingly important part of a corporate travel programme, meeting many of the new demands of corporates and their travelling employees. Driven by sustainability, wellbeing and duty of care, travellers are taking longer and more productive trips, looking to work from anywhere, often taking their families with them and adding on leisure time. Thanks to investment in technological innovation, serviced accommodation is now even easier to source and book, and its global footprint continues to grow at pace. It's all in this guide, so read on...

14 OPERATIONS DIRECTOR Clare Hunter Production controller Steve Hunter managing Director Matt Bonner While every effort is made to ensure accuracy, BMI Publishing Ltd cannot be held responsible for any errors or omissions.

Images courtesy of suppliers as indicated and also sourced from istockphoto.com and bigstock.com Cover Images: From top clockwise: Frasers Suites Le Claridge Champs-Elysées, Dao by Dorsett/ FoodphotographyLondonLTD, Locke Wunderlocke/ Edmund Dabney, Istockphoto.com/macniak, My Urban Chic

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Overview

HERE TO

STAY

Meeting the new needs of travellers, serviced accommodation is securing a place in more travel programmes

STAY CITY, PORTO

he perception of serviced accommodation among business travellers changed during the pandemic and persuaded more travel managers that extended-stay options remain appropriate. A continued requirement for wellness, safety and sustainability has led more corporates to give serviced accommodation a more prominent place in their travel programmes, offering apartments as an alternative to hotels. “Some of the big buyers tell us they will put our offer beside Marriott and Hilton, etc,” says StayCity Commercial Director Paula Mullaney. “And with hybrid working, when people are in the office two or three days a week, they are working in an apartment rather than in a hotel room or lobby; similarly when they are relocating. It has worked well for us.”

STR’s figures for accommodation in 2023 reflect this trend, with occupancy for serviced apartments up 3.3% to 80.8% against 77.3% for hotels. Rates are up 7.7% nationwide to £158.23 for serviced apartments, against £119.47 for hotels. Senior Director at STR Thomas Emanuel says the premium rates are partly down to brand – the biggest hotel operators in the UK are economy brands “but there is no economy piece in the serviced apartments pie”, he says. C

Individuals are now away from home for longer periods but travelling less frequently, and we expect that to increase”

CMY

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Overview

There is a small (5%) increase in agents offering serviced apartments as a core service, or via a partner”

FRASERS PARIS LE CLARIDGE

London tops nationwide occupancy at 81% for serviced apartments with an average daily rate of £208.80, up 8.7%, against 79.8% and £195.69 respectively for hotels. In the UK regions, serviced apartments enjoyed 80.6% occupancy compared with 76.4% for hotels while STR found average rates were £109.90 for apartments, versus £91.11 for hotels. “The industry had a good year in a challenging environment, with rates well up against pre-Covid levels. Occupancy nationwide is back. The UK is ahead of most of Europe,” says Emanuel. “And there is still room for growth AV_AD.pdf

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because the Chinese market – and corporate and group business – have not yet returned in strength.” Despite challenges such as the economy, geopolitics and a “worrying year of elections”, which could have selective impact on performance, Emanuel is optimistic about hospitality as a whole. “I’m forecasting growth in 2024. This will not be double digit growth but more standardised increases in Europe, which will come from occupancy, rather than rates," he said. According to Managing Director of House of Fisher, Trine Oestergaard Stafford: “We

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CMY

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Overview

There is still room for growth because the Chinese market – and corporate and group business – have not yet returned in strength”

CHEVAL MAISON – THE PALM DUBAI

are definitely competing against hotels in accommodation programmes and we believe guests prefer serviced apartments over hotels if they are on a longer stay because they might not have the budget to go out for dinner every night or the company can’t afford it. Using a kitchen and doing a weekly shop will be much cheaper than eating out every evening.”

In demand

MURA LIVING

BEN PIPE PHOTOGRAPHY

ISTOCKPHOTO.COM/ ARCHIVIZ

Running hotel and serviced apartment programmes alongside each other is made easier by the increasing presence of aparthotel brands such as IHG’s Staybridge Suites and Marriott’s Executive Apartments and Residence Inn. In fact, aparthotels continue to punch above their weight and Citadines’ figures reflect that. In 2023, 65% of stays were business trips, up from 50% in 2022, and there was an increase in executives extending their stay for leisure time. STAY apartments is seeing a shift towards longer stays. “Individuals are now away from home for longer periods but travelling less frequently, and we expect that to increase,” says Vice President Operations for STAY Camden Sam Ghosh.

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However, STAY is noticing a response to the fluctuating economy, with a drop in corporate demand towards the end of 2023 following the 2022 post-Covid boom. Frasers Hospitality also sees requirement for extended stay shortening. “This does not mean that the long-stay segment is declining in 2024 but that the flexibility of serviced apartments is appealing to a wider range of travellers," says COO EMEA Rebecca Hollants van Loocke. "Frasers Hospitality now receives corporate enquiries that vary from one night up to four months." The serviced accommodation sector is making major in-roads to meet the rising demand for sustainable stays (see page 8) and to improve bookings and other processes through technological innovation (see page 10). "Thanks to improved distribution among operators, and TMCs investing in contentrich technology platforms, there is a small

(5%) increase in agents offering serviced apartments as a core service, or via a partner," says the latest Global Serviced Apartment Industry Report (GSAIR). "However, operators say 23.16% of bookings still come direct to their own websites." While access and awareness are improving, agents say there is a continued need to explain the advantages of serviced apartments to corporate clients.

With hybrid working, when people are in the office two or three days a week, they are working in an apartment rather than in a hotel room”

alexandre moulard

Overview

Frasers Paris Le Claridge

dao west london

Sustainability

GROUND

WORK

The serviced accommodation sector is responding to the ever-sharper focus on sustainability and social responsibility

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28% on water and 98% on ‘less embodied energy in materials’, according to the EDGE report. This is part of the Ascott move towards net zero by 2050.

Reduction targets

Cheval Collection has a five-year roadmap that includes targets for waste monitoring, carbon emissions, employee wellbeing, supply chain management and resource consumption. “We examined our performance in these areas throughout 2023 and, based on the data, will be committing to reduction and improvement targets for this year,” says Head of Sales and Marketing, Doug Greenwood. StayCity has a Director of Sustainability and the company has given employees two extra paid volunteer days, six weeks’

ANDREI BOTNARI

ustainability continues to rise up the corporate agenda and features large in accommodation RFPs, where organisations request that suppliers prove their credentials. This year the pressure is increased by the Corporate Sustainability Reporting Directive (CSRD), EU legislation that requires large and listed companies to publish the risks and opportunities arising from social and environmental issues, and their impact on people and the environment. Serviced accommodation specialists have responded with new tools, initiatives and accreditations. AltoVita’s EcoStats, launched in December 2023, estimates CO2 emissions for each night’s stay in any of the platform’s inventory, based on location, duration and accommodation type. Created in partnership with Thrust Carbon, the tool bases calculations on certifications, renewable energy usage, responsible sourcing and more. SilverDoor’s new carbon calculator also estimates building-specific, per night CO2 emissions for serviced apartment stays and compares the figure to an equivalent hotel stay using data from the Cornell Hotel Sustainability Benchmarking Index, focused on water and energy consumption. Citadines Islington has achieved green building standard EDGE certification thanks to improvements such as low flow taps and shower heads, a high efficiency air conditioning system and 100% LED lighting that will save 42% on energy use,

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ANDREI BOTNARI

Sustainability

CHEVAL THREE QUAYS

paid maternity leave, and paid adoption leave. It is also working on gender diversity. It has charity partners in the homeless and arts sectors, and is set to recruit a Head of Charity. It measured CO2 emissions in 2022 and is using those figures as a starting point for continual improvement. As part of the organisation’s trajectory towards net zero, it has signed up to Science Based Targets (SBT), with attendant measures of electricity, gas, refrigerator consumption and emissions associated with the supply chain. As part of its SBT commitment, StayCity aims to reduce emissions by 1.5°C in line with the Paris Agreement. CAP Worldwide and its CEO, Jo Layton, are working hard to ensure the voices of corporate buyers are heard. Layton and Debbie Woodley from relocation company Dwellworks are co-chairs of the 2023 CHPA Sustainability Workgroup, which has recorded three videos with perspectives from associations, sustainability assessors and corporate buyers, the latter featuring Sue Jones from Ingka/IKEA, Bernadette

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Basterfield from GE Vernova and Michael Funnell from Barclays. The buyers' video was launched to members of CHPA and covered all areas, including emissions, modern slavery, diversity, inclusivity and accessibility. Buyers stressed the need for the sector to adopt one certified measurement of emissions, using science-based targets. James Foice, CEO of the Association of Serviced Apartment Providers, agrees: "We are working with the Corporate Housing Providers Association and the European Relocation Association, who have established a Coalition for Greener Mobility, to try to get some consistency when measuring carbon output. It’s important there's a common thread throughout everything we do as industry and the ASAP green team underpins that."

SILVERDOOR

Green credentials

Situ has joined the sustainability data company Sedex to improve the management of ESG factors within its supply chain. It has also conducted an assessment of its own operations to reveal a healthy ‘low risk’ rating of 2.8/10. In 2023 Mansley Serviced Apartments achieved a silver gong from Green Tourism and an EcoSmart Plus rating from

Buyers stressed the need for the sector to use one certified measurement of emissions, using science-based targets”

STAY3SIXTY

Greengage. It produced its first Carbon Footprint Report, stating Scope 1, 2 & 3 emissions, and from that it developed a Green Action Plan to highlight areas for improvement, such as operations, process, and internal engagement. Stay3Sixty has partnered with Climate Reality Project, looking at renewable energy. “The project is helping us reduce carbon emissions, train staff members, and we recently reduced HQ emissions by 4.5%, vehicle emissions by 51% and in apartments by 36.4%,” says VP EMEA and APAC, Juliet Howie. “Dun & Bradstreet is working with us on a sustainability score for supply chain properties.”

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Technology

CITY SUITES

LET’S GET

DIGITAL

Investment continues in tech innovations in the serviced accommodation space

erviced accommodation operators and agents are continuing to invest in tech innovation to help improve the search and booking process and the guest experience. The latest GSAIR report notes that the distribution of serviced apartments is now “more mature”, with operators recognising the importance of providing availability on the GDS. Rich content is being made available in self-booking tools, speeding up the process and helping bookers to make more informed choices. SilverDoor’s new API, launched at the start of 2024, puts serviced apartment content from more than 2,600 global operators alongside hotel listings. “This API makes our portfolio instantly available to view and book alongside hotel rooms," says Senior Vice President Business Development, Pauline Houston. "It is a huge step in making serviced accommodation more easily accessible to relocation and business travel programmes."

Users can compare nightly rates, facilities and carbon emissions and can then either enquire or instantly book accommodation. The SilverDoor Analytics API also fetches booking and spending data with real-time accuracy. “The message from clients has been clear for a long time: if serviced accommodation wants to compete with hotels, they need to exist in the same spaces, offer live rates, and have seamless, instant booking technology,” adds Houston. Open API is at the centre of Stay3Sixty’s new technology platform, giving it access to clients’ travel programmes, live booking with individual log-in for bookers who can nominate limitless users. Dun & Bradstreet does a weekly audit to highlight to the agency any concerns about partners, relating to safety, risk, financial status, money laundering and so on. Stay3Sixty also works with GeoSure to show clients a rating on each property for women’s safety, health and medical, physical harm, LGBTQ+ safety, theft,

Operators can use their property management system to offer any unit for any length of stay with sliding price scales”

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Technology

LILLI MIDTOWN ATLANTA LUXURY RENTALS

It is a huge step in making serviced accommodation more easily accessible to business travel programmes”

political prudence and more. AltoVita won the PwC account, which went live in September 2023, on the strength of its technology. “We wanted to make more bookings transactional and AltoVita has Airbnb technology in serviced apartments and longstay accommodation but it is safe, secure and validated,” says PwC’s Head of Hotels and Venues Sam van Leeuwen. “We have information about health and safety and sustainability at the touch of our fingertips, and can challenge them to provide hand holding and support services when we need them. The most appropriate preferred property for PwC’s requirement comes to the top of the booking tool; it’s like a hotel programme.” But many bookers, particularly for longer stays and in unfamiliar locations, prefer to contact providers directly. “We still see a traditional booking process in the sector, with enquiries received via phone or email at our hotels,” says Martin Hird, Group Director of Sales at Cycas Hospitality.

Guest experience

TAJ 51 BUCKINGHAM GATE

FOUR SEASONS AT TEN TRINITY SQUARE

Automation is being introduced throughout the customer journey, facilitating self-service check-in and mobile applications or helping providers to collect and analyse guest feedback. StayCity’s new website will allow it to provide more services such as keys on phones and will use data technology to aggregate customer feedback from ReviewPRO and OTAs to analyse what guests do and don’t like, leading to more prompt action. The Ascott has also been pushing the technological boundaries. It has implemented a cloud PMS, introduced robotic process automation for repetitive tasks and plans to

apply advanced emotion analysis of guest reviews to inform operations, marketing and branding strategies. Generative AI chatbot Cubby now resides on the Ascott website to help guests plan and book travel when staying at The Cavendish London, Citadines properties and Quest, Liverpool. Meanwhile, actual bots were introduced in China to perform tasks such as concierge services, leading guests to rooms, delivering clean laundry and refilling room supplies. Last year, Situ acquired short-term rental company Rentivo, giving it a worldwide platform for the extended-stay sector to complement its corporate housing and serviced apartment inventory. In a new partnership, Situ has automated routine booking processes through the BJSS AI-enhanced platform Xenia, liberating Situ teams to focus on customer service. Xenia also analyses the carbon footprint of each stay, allowing clients to report Scope 3 emissions more accurately.

Dynamic pricing

Meanwhile, pricing for serviced accommodation is becoming more flexible thanks to the latest developments in PropTech software. “Today’s serviced apartment operators can use their property management system to offer any unit for any length of stay with sliding price scales,” says Founder and CEO of PMS res:harmonics Giles Horwitch-Smith. “Innovative booking software enables operators to verify customers’ right to rent, perform credit checks, take deposits and sign contracts as part of a seamless digital booking journey. Apps for residents ensure a homelike experience and operations software guarantees responsive maintenance – both of which are essential for extended stays,” he says.

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Q&A

Sponsored

What is CAP Worldwide?

Q We’re self-funded, majority female-owned and also the fastest-growing serviced apartment agency, founded in June 2019 by Jo Layton and Andrew Hopgood. Both, like me, have been in the industry for many years. We specialise in creating programmes for global accounts and have teams in the UK, Hungary, Asia Pacific and the US. We are a team of highlyexperienced professionals who help our clients manage their global extended-stay programmes, showing them how to maximise their spend and create sustainable, secure and cost efficient solutions. But what makes CAP special is our people, our culture and our dedication to our clients. It’s the reason I joined the company.

Tell me more about your people:

Cap

WORLDWIDE

We’ve grown from five people to a team of 50 today – with 75% female leadership – and we’re a very diverse organisation in other ways too. Our diversity allows us to access each individual’s strengths – some are very meticulous, some incredibly creative – and we allow every person to be amazing in their own right. We’re treated like adults and are trusted to do our jobs to the best of our abilities and, most importantly, to be our true selves.

How would you describe the CAP culture?

Q From the very start, CAP has been built on a culture of integrity, diversity,

As CAP Worldwide celebrates its fifth anniversary, we check in with Global Sales Director, Jess Sharpe.

From the very start, CAP has been built on a culture of integrity, diversity, dignity and trust”

dignity and trust, and that extends from our people to our relationships with our clients. Our clients cite our company culture as the reason they do business with us and it’s why our people join CAP and thrive. Jo leads us in a very authentic and compassionate way. Everyone at CAP is encouraged to be the best version of themselves, while working as one cohesive team. There are no individual targets or bonuses – we are all rewarded in the same way. When we win an account, we win it together. It’s deeply engrained in our culture. It’s the reason we have managed to gain the trust of really big global clients, and hold on to them.

What are

Q CAP’s plans

for the next few years?

Of course, we want to grow, but we want to do it organically. We don’t want to be the biggest and overstretch ourselves or lose the focus on the effective client programmes we have in place. Everything is led by our clients. We continue to actively listen to what they want and need, and provide actionable insights to future-proof their programmes. We only work with contracted clients, so we don’t get distracted by one-off enquiries, and that’s what we’ll continue to do. We are a global serviced apartment booking agent, with excellent technology, but our client relationships are so personalised it’s blows my mind. It all comes back to our people.

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Programmes

GET WITH THE

PROGRAMME

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Five top tips to help you incorporate serviced accommodation into your travel programme

Be patient. This is a joint journey of discovery so make sure you are transparent and trust in the expertise of your partners to help shape your programme. Work hand in hand with them and don’t expect to solve every need from the start. Talk to internal stakeholders and ensure they are on board. The introduction of a new product can take time to socialise, so invest time and resource into championing your programme, this includes getting departments to talk to each other – business travel, mobility, etc.

Understand why you want to include serviced accommodation in your programme. Factors to consider include budgets; ESG, compliance and duty of care objectives; preferred booking methods, policy for booking and how to manage out of policy bookings; regular and ad hoc location requirements. Establish if there is an appetite for change and analyse booking patterns. Are lengths of stay increasing? Are employees adding days on to business trips for personal holidays? Does your policy provide scope for family members or partners to join them? Are employees booking apartments out of official channels? If so, offering more approved and vetted extended stay accommodation makes sense. The next stage is to identify which suppliers are used by all parties. That way you can consolidate spend and negotiate discounts.

Ho 3

Make sure you have the right product. Like the hotel industry, serviced apartments come in all shapes, sizes and prices. If properties are not the right value or quality, people are not going to use them. Make sure you know who is using them and for what reasons. Serviced apartments are a lot less controlled than transient; there is a huge range, and if you have a variety of different stakeholders – global mobility, students, business travel – you need to understand their needs to match products to the user. Also, check buildings are in the right location. An amazing apartment at what seems like an ‘amazing’ price may not be such good value when the cost of travel to the workplace is factored in.

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Programmes

Communicate and educate. It’s important to spell out the reasons why the company is incorporating serviced apartments or other alternative accommodation. The benefits might include more space (on average 30% more than a hotel room), a better choice of amenities (from kitchens and washing machines to smart TVs), and a more home-like feel, with many brands focusing on their design. In many cases a serviced apartment will also provide a greener stay, while for cost-conscious colleagues, remind them that booking serviced accommodation can save the organisation money in the long term. LOCKE WUNDERLOCKE

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Consider work and lifestyle needs. Co-living options that focus on interaction, with group activities and integration with local communities, are particularly valuable for those on longer stays. For younger, tech savvy types, a new breed of serviced accommodation centres on technology and convenience in hi-spec surroundings.

* These tips were put together with expert input from Situ, Synergy, AltoVita, Sam van Leeuwen at PwC and Sue Jones at Ingka/IKEA.

Locations

Home Suite Home

LONDON • MANCHESTER • BRIGHTON

Contact supercityuk.com +44 (0) 20 3818 9070 sleep@supercityuk.com

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Coming Soon YO R K • L E E D S • E D I N B U RG H

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What's new

FABRICE RAMBERT

CHANGING

New brands, new openings and new concepts are meeting the fast-changing accommodation needs of business travellers

LYF BUGIS SINGAPORE

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LA CLEF CHAMPS-ELYSÉES

SPACES

EMBER LOCKE KENSINGTON LEVERNE

ASCOTT OAKWOOD HOTEL LYF HONGQIAO SHANGHAI

erviced accommodation providers continue to spread their footprint worldwide, reinvent themselves or introduce new brands, concepts and services. Ascott’s lyf has taken flight with eight new property signings in locations ranging from Bali to Frankfurt. “There is tremendous potential for us to scale lyf further across more hospitality asset classes, whether as a full-service hotel or resort, especially with the growth pace we have seen over the year,” says Kevin Goh, Chief Executive Officer for Ascott and CLI Lodging. The plan is to have 150 properties by 2030 and contributing to this goal are lyf Schönbrunn Vienna, lyf Dayanta Xi’an in China and lyf Malate Manila in the Philippines. All lyfs have communal spaces with co-working lounges, gymnasiums, laundrettes and shared kitchens. The company is also fast expanding its

Crest Collection. The Cavendish London and Citadines Saint-Germain-des-Prés Paris will undergo renovation and reopen under The Crest Collection brand in 2025 and 2026 respectively, plus an 171-unit property in Bucharest, Romania, in 2025. Ascott launched the brand in Asia in 2023 with three openings in three months – The Grand Mansion Menteng in Indonesia, The George Penang in Malaysia and The Robertson House in Singapore. Also last year, Frasers Hospitality opened Capri in Phnom Penh, and Fraser Residences River Promenade, Singapore, and Tianjin, China. Fraser Suites were signed in Bangkok and Bahrain, and developments underway include Fraser Residences in Malaysia and Phnom Penh, and Capri by Fraser in Phnom Penh, Malaysia and Indonesia. Meanwhile, the Middle East is a growth area for Cheval Collection and Cheval Maison. Expo City Dubai is under refurbishment for reopening in 2025.

MAYFAIR DARLEY HOUSE

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What's new

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ASCOTT DADONGHAI BAY SANYA

LA CLEF CHAMPS-ELYSÉES

The lines between serviced apartments, hotels and multifamily residences are becoming increasingly blurred” EMBER LOCKE KENSINGTON LEVERNE

Marriott plans to expand its Apartments by Marriott Bonvoy serviced apartment portfolio in the United States, Italy, and the Kingdom of Saudi Arabia. It has opened its first Apartments by Marriott Bonvoy property, Casa Costera, Isla Verde Beach, in San Juan, Puerto Rico. Closer to home, work has begun on a dual-branded 228-bed Aloft Hotel and Residence Inn by Marriott in the Titanic Quarter of Belfast. Australian group, Urban Rest, has opened two properties in Dublin and London, taking its portfolio in Europe to seven. Urban Rest Merrion Square is third site in the Irish city while Urban Rest in Notting Hill marks the fourth site in the UK capital. In response to the rising preference for intimate, luxury spaces, last year Viridian launched Darley House and Peterson House in London's Mayfair as part of the group’s Signature Collection, with five-star service such as onsite concièrge.

Communal living

The rising popularity of co-living concepts is also inspiring new spaces. Synergy Senior Director International Sales, Sofia Oragano, notes: “The lines between serviced apartments, hotels and multi-family residences are becoming increasingly blurred, inspiring a new era of accommodation." The Covent Garden version of The Other House is due to open in winter 2024 with 100 units. “The brand offers the unusual option to book multiple rooms for use as separate apartments or to be joined together as a communal patio area for groups or families, each unit giving individuals their own space,” says Head Partner Account Manager EMEA for SilverDoor, Kurtis Murphy. Similarly, Adagio is trialling a co-living floor plan that allows for a communal living area, with separate and private units for group bookings. In Europe, Vision Apartments opened in

Bucharest, Dao by Dorsett Hornsey Town Hall opens this year in Crouch End, My Locanda, Cheval Collection, is under construction in Glasgow, and Charles Hope Apartments opened an aparthotel in Aberdeen with co-working spaces, gym, cinema and communal laundry. A new Aparthotel Birmingham is offering interconnecting apartments for families, group bookings or guests who require a larger apartment, plus meeting spaces and a co-working hub, all in a prime location. Altido is being re-branded as Joivy, with communal working spaces. It has private apartments within shared accommodations suitable for corporate travellers as well as students. Locke has also been expanding, and launched Ember Locke in London’s Kensington and Chelsea with 121 units; Locke am Platz in Zurich with 80 units; and Locke East Side Gallery in Berlin. All of the properties have social spaces, bars and restaurants.

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