SACO to expand Locke design-led aparthotel brand in six locations

05 March 2018 by
SACO to expand Locke design-led aparthotel brand in six locations

The Serviced Apartment Company (SACO) is to add around 1,000 new units to its design-led aparthotel brand Locke.

The expansion of the brand was announced shortly after the completion of the sale of SACO to investment company Brookfield Asset Management for £430m.

Additional sites have been acquired in London, Cambridge, Manchester, Dublin, Paris and Berlin. The 970 apartments will open between 2018 and 2020.

The Locke brand is now located in the City of London, Edinburgh and Amsterdam, with sites set to open later this year in Manchester and Moorgate, London.

In total, the new pipeline of openings will give SACO's operational arm a presence in 39 locations, with a total of 1,950 apartments. The company eventually intends to have 4,500 apartments open in key European cities.

Stephen Hanton, chief executive of SACO, said: "The business is entering a new phase in its development and we are absolutely delighted to be doing it with such an experienced and well supported parent company.

"SACO's mission to reshape hospitality is straightforward but ambitious and, with Brookfield's support and the expansion programme that we have planned, we believe that ambition can be achieved."

Eric Jafari, SACO property group's managing director, added that Brookfield was "an invaluable partner" as a result of its "corporate culture, professionalism and sector knowledge".

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