Main Photo: The Oakwood Tokyo
Date: May 2020
Location: Asia Pacific
Name: Oakwood Apartments
No. of Keys: 3,732
Who: Hotel and serviced apartment provider Oakwood has announced it will double its portfolio of managed properties worldwide by 2025 as part of a greater focus on hospitality management.
The company has committed to opening 20 properties in the region throughout the next two years in order to focus more on hospitality management.
It comes after Oakwood entered into a strategic partnership with relocation support services provider Dwellworks to operate a brand-agnostic solutions service for sourcing accommodation options for guests around the world.
The brand has also committed to double its portfolio of managed properties worldwide by 2025. Under the the agreement, Dwellworks has an exclusive license to Oakwood’s technology platform, an end-to-end accommodations management solution, and access to the industry’s supply chain for housing solutions.
Oakwood CEO and Asia Pacific Managing Director, Dean Schreiber, said the partnership aligned with the strategic direction of both organisations, allowing Oakwood to focus on the development and growth of its hospitality portfolio, and Dwellworks to strategically expand its capabilities in the corporate housing sector.
“Dwellworks is an excellent steward for the corporate housing industry and a longtime partner to our company,” he said. “They have deep experience and familiarity with how our business works, as well as a shared commitment to delivering exceptional service to clients and guests.
“This significant new phase in the evolution of Oakwood will allow the brand to focus on enhancing its services on-property, and transform into a true hospitality management company fit for sustainable growth and business success.
“With a commitment to double our portfolio of managed properties by 2025, the development pipeline holds a number of landmark projects.”
Oakwood offers six products under the Oakwood brand – Oakwood Premier, Oakwood Apartments, Oakwood Residence, Oakwood Suites, Oakwood Studios and Oakwood WaterWalk
Mr Schreiber said the company’s hospitality model created new opportunities for growth across global regions and provides much-needed focus to further build on its long-standing reputation in the hospitality market as a leading provider of serviced apartments.
“We have been fortunate to have played a leading role in the growth of the corporate housing industry and we are thrilled to begin this next phase of our business to focus on delivering exceptional hospitality service,” he said.
“Oakwood has established a distinctive edge of providing serviced apartments that offer generous residential space and exceptional guest services in Asia Pacific.
“We believe that these furnished apartments have a strong potential to develop as the mainstream alternative to hotel accommodations, as we continue to bring this offering across the globe.”
THPT Comment: Great to see such optimism from Oakwood on the Asia Pacific market…fair to say the serviced apartment sector has survived the Covid-19 era better than most.
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