The developments are in partnership with Union Hanover and EquityBridge Asset Management and will open two years apart, with the first due to be open for guests in 2016. The first of the aparthotels to open will be a 217 apartment property located on Whitechapel Road in East London, while the second building will consist of 137 apartments and be located in Stratford.
On the topic of moving into London, chief executive of Aparthotels Adagio Martine Balouka-Vallette said: “Launching in London is central to the development of the Aparthotels Adagio brand in Europe and globally and London is the place to be for business and leisure. Opening in London is integral to our business and has been a priority since Adagio was launched in 2007.
“We now have the right opportunities to launch Adagio in the city with two exciting openings which will deliver for the burgeoning extended stay market in London and Europe. Greater availability and increased consumer demand are driving the serviced apartment growth in the UK and Adagio will play a major part of this continued growth in years to come.”
Managing director for Accor UK & Ireland Thomas Dubaere added: “London continues to be a key market for growth and we are committed to strengthening all of our brands in the city, and indeed throughout the UK. The success of Adagio’s growth is testament to our ability to innovate in hospitality and continually bring new ideas and offerings to our guests.”
Adagio’s aparthotels provide hotel services and consist of one and two bedroomed apartments with kitchens and bathrooms.
Adagio expansion
The announcement of Aparthotels Adagio’s planned arrival in London comes shortly after the signing of a new site in Edinburgh, part of the company’s extensive expansion plans. Adagio’s concept has been rolled out throughout Europe and is now setting up site in a few placed in the UK. Adagio also has an aparthotel in Liverpool that launched in 2013 and has signed a site in Birmingham which will open in 2015.
“The business has seen solid growth in recent years and we are on track to open 150 aparthotels worldwide by 2016 in particularly in Latin America, Middle East and Russia,” said Balouka-Vallette.
UK serviced apartments
Adagio’s expansion plans are being announced at a time of continued growth for the serviced apartment sector. According to experts, demand for serviced apartments is growing as consumers start to recognise the benefits of a home away from home, such as more flexibility and space.
London is leading the way for serviced apartment growth, with providers such as City Marque recently having acquired funds to set up large numbers of apartments there.
However the rest of the UK is also following suit, with Staycity signing a deal to expand to Birmingham and Apple Apartments opening in Belfast.