Staycity announce six new openings following positive growth

Staycity Aparthotels has announced six new property openings for 2019-20 following a 12 months of significant growth.

Staycity expects finalised 2017 turnover to have grown by 25%, with a strong profit margin in line with that of previous years.

Finance director Colm Whooley, said: “Last year’s results will show growth in turnover and profits for the group. During 2017 the board signed off on the company’s five-year business plan which will see us operating 15,000 rooms by 2022.

“Brexit and general economic environment have remained a risk but we have attempted to reduce that risk where possible with a strategy of growing the business across a number of markets and actively managing currency exposure through foreign exchange hedging,” he added.

New locations for 2019 include a 284-key aparthotel near Disneyland Paris with swimming pool with bar and deck, full restaurant, café and lounge area and bar. A Venetian mainland suburb of Mestre will also see a 175-unit opening.

Two Staycity properties are to open in the German capital, one being a 48-apartment Wilde Aparthotel located in Charlie Living, one of several new buildings located at the former Checkpoint Charlie on the Friedrichstrasse in Central Berlin.

Another site will be added to the group’s Dublin estate in 2019 when it opens in Chancery Lane in the city centre.

Preliminary work is also underway on a third Manchester property in St Peter’s Square, expected to open at the end of 2019 with 250 apartments.

Staycity CEO and founder Tom Walsh, said: “These aparthotels are all in fantastic locations and offer exciting opportunities for us to grow our brand and our estate. The company now has the right team in place to enable and facilitate this expansion, although we look forward to recruiting locally for each of our new properties over the course of the next 12 months.”