Irish accommodation provider Staycity has secured three new development sites in London, which will add 644 rooms/keys to its portfolio.
Staycity – which is the fastest growth aparthotel company in Europe – has also announced the return of Andrew Fowler to the company in the role of chief development officer and the launch of a new development platform called Carnsór.
Andrew Fowler, Chief Development Officer said: “I am thrilled to return to Staycity Group in a new capacity, with the overall goal to double the current growth rate. Staycity has become the fastest growing aparthotel company in Europe, and with this new development platform Carnsór, we’ll look to drive further growth in the Group across development and leasing. We are really excited to see what we will achieve in the coming years.”
Staycity Group has grown significantly over the past 10 years and its resilience through the Covid crisis was impressive, placing it as the operational leaders for Europe in the aparthotel sector.
It has ambitious plans, with the aim to grow its current 10,000 keys to 20,000 keys in the next 5 years.
Currently in Ireland, the UK, Italy, France and Germany, it is committed to furthering its geographic reach and consequently is expanding its acquisitions team in Iberia, Italy, the Nordics and CEE regions.
CEO and co-founder Tom Walsh added: “We have great momentum at Staycity Group and I am delighted to welcome Andrew back, who I know will be a key part of our growth strategy. The Carnsór platform will be an additional growth channeland with the Group delivering just over €50 million in EBITDA in both 2023 and 2024, we are well positioned financially to achieve our goal of a further 10,000 keys in the next 5 years.”
