Hotel Solutions Partnership’s Ghislaine Oliver was delighted to attended the Serviced Apartment Network Group (SANG) on Tuesday 25 September 2018 at the London offices of Katten Muchin Rosemann UK LLP.
The event was dedicated to “The Alternative Alternatives: Extended Stay, Co Living and PRS.”
The event was attended by more than 100 guests which included bed stock, services and product suppliers, alongside investors, bankers, agents and consultants.
Hosted by the SANG Committee, attendees at this breakfast and networking meeting were given an imaginary pot of investment money and, after hearing the pitches from two companies, would then decide with which they would invest.
The panelists were:
- Ravi Sharma – Founder & CEO Respublica (Co Living)
- Archie Hunter – Portfolio Development Director – Native (PRS)
- Christabelle Morgan – Desouches – International Development Director – Adagio (Serviced Apartments)
Ghislaine noted that there was a clear feeling of strong growth in the serviced apartment sector of the market, with keen interest from investors.
Shifts in patterns of behavior in the live/work balance in society, particularly among millennials, has created a new and exciting market for co-living space. Market leaders in the co-living space, both in the UK and more widely in Europe, cited the importance of open plan design, inclusion of a gym, library, shops, bars and restaurants to create a village-type environment with the associated services available on site.
Location was key to the success of such developments, with high quality and cutting edge technology also being essential to success. It was interesting to note that room sizes on average were significantly larger than traditional hotel rooms, and with longer average stays (4-5 nights) it is clear to see how the co-living and shared workspace sector of the market is an exciting area for the industry moving forward.
After lively debate, the audience gave their vote on the day – a fun and informative exercise and a great opportunity for Ghislaine to promote Hotel Solutions Partnership’s skills and expertise in this area.