Bespoke Hotels takes stake in apartment operator
British hotel group Bespoke Hotels has taken a minority stake in boutique serviced apartment operator Staying Cool.
The deal, which sees Bespoke co-founder and chairman Robin Sheppard become chairman of Staying Cool, is designed to help grow the apartment brand across Britain and beyond.
The two groups are already in discussions over development projects for either dedicated aparthotels or mixed use sites with hotels and apartments.
Sheppard, who himself has taken a minority equity stake, 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."
Tracey Stephenson and Paul Taylor, co-founding directors of Staying Cool, said: "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."
Staying Cool was established in 2008 to bridge the gap between boutique hotels and holiday rentals.
Its landmark property is a 30-unit apart hotel at Birmingham’s iconic Rotunda.
Formed in 2000, Bespoke Hotels now has 170 properties worldwide, with a growing presence in the serviced apartment sector.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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