SACO to double appartment portfolio amid international expansion plans

SACO to double appartment portfolio amid international expansion plans

Serviced accommodation provider SACO is to expand outside the UK with plans to double its portfolio of serviced apartments and aparthotels.

The company’s first properties in Amsterdam and Dublin will be added alongside three in London and one in Manchester by 2020.

The six new properties, plus a seventh due to be announced shortly, will incorporate 905 units between them, almost doubling SACO’s footprint of managed units from 980 to 1,885.

The new properties in Manchester, Dublin and one in London on Buckle Street will be operated under new lifestyle aparthotel brand, Locke.

The Amsterdam property will be a SACO Aparthotel, and the two additional properties in London in Fitzrovia and Moorgate will be SACO serviced apartments.

The new locations have been chosen as they are all in major UK and European hub cities which attract a mix of transient business traveller stays, extended stays and demand from leisure travellers, boosted by growing demand from a number of key sectors including technology, media and creative.

Company commercial chief executive, Stephen Hanton, said: “Today’s announcement marks a key milestone in the growth we first started planning two years ago to meet the ever-increasing demand for serviced accommodation.

“Our expansion reflects the marked and ongoing shift in consumer demand from traditional hotels to stays at serviced accommodation properties that allow greater flexibility, and more opportunities for social engagement with fellow guests and the surrounding community.”

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