Bespoke Hotels is moving into the aparthotel business after acquiring a minority stake in Staying Cool, a boutique serviced apartment operator which currently operates a single property in Birmingham.
The new investment is expected to lead to the joint venture development of new sites across the UK, as either dedicated aparthotels or mixed use sites combining hotels and serviced apartments. Discussions are already taking place with regards specific sites, to join Staying Cool's existing 30-unit aparthotel on top of the grade II-listed Rotunda building in Birmingham.
Bespoke's co-founder and chairman, Robin Sheppard, has been appointed chairman of Staying Cool, which was founded in 2008 by Tracey Stephenson and Paul Taylor.
Sheppard described the new partnership as "a first" for the UK. "At Bespoke we see the rapid growth of the serviced apartment sector as a significant market opportunity rather than a threat to established hotels.
"With its focus on design, innovation and customer service, Staying Cool is one of the most exciting apartment brands we could hope to partner with. We believe they offer something unique and rather special in the serviced apartment space. They boast rave customer reviews, while their award-winning track record speaks for itself."
Stephenson and Taylor, added that they are delighted to partner with "a strong, like-minded and dynamic partner" which will help them accelerate their plans for growth.
"With Robin's experience and the added fire power of Bespoke alongside us, we are in pole position to take the business to the next level and to ensure that Staying Cool reaches its full growth and brand potential over the coming years."
Formed in 2000, Bespoke Hotels today operates more than 170 - predominately managed - properties.
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