SACO appoints Steven Haag managing director

SACO, the Serviced Apartment Company, has appointed Steven Haag as its first managing director as the Brookfield-owned business expands into Europe.

Haag joins SACO from hospitality platform Sonder, where he led its UK and Ireland business as general manager for two years. In his new role, he will lead on realising growth opportunities in key locations across the UK and Europe via leases, site development and purchase of existing assets.

SACO is part of Edyn, a serviced apartments and aparthotel company with four brands including SACO, Locke, Wittenberg and the Moorgate, with more than 80,000 apartments in 260 locations.

Following the acquisition by Brookfield Capital Asset Management in 2018, the leadership team is focused on driving the company's ambitious growth plans, including 10 new properties comprising more than 1,500 rooms across the UK and Europe, all set to be open by 2024.

Last month SACO's lifestyle sister brand, Locke, announced its international expansion plans for the next two years, with openings planned for Germany, Ireland, Portugal, and Copenhagen, as well as three openings in the UK next year.

Stephen McCall, chief executive of Edyn, said: "We are delighted to welcome Steven to the Edyn family and have him lead the transformation and growth of SACO, alongside our ambitious plans for Locke and Edyn. His arrival underlines the huge potential of extended stay, and we are fortunate to add his experience with Sonder and in hospitality restructuring to our bench."

Haag added: "It is incredibly exciting to be joining SACO and the wider Edyn group at such a pivotal time for hospitality. Whereas much of the industry is currently taking stock, SACO will look at the opportunity presented to expand its portfolio with new properties across Europe. We are in a unique position given our resilient business model, world-class development team and financial backing in Brookfield to reposition assets, as well as acquire new sites."