Luxury serviced apartment provider Supercity Aparthotels has secured £10m equity to grow its portfolio and expand its offering across key locations in the UK.
Over the past 11 years, the privately owned group has grown to six freehold aparthotels comprising 300 units across London, Manchester and Brighton.
Chairman of Supercity Aparthotels Roger Walters said: "Despite a challenging year for the industry, by owning our real estate, brand and operating company we have been able to quickly adapt our business and maximise the trading performance of each location. We have continued to invest in the business, ensuring that all properties maintain our high standards. We have also appointed new leadership and deepened our relationship with key supplier partners. Our business model has proven to be resilient and we are committed to growing the portfolio across key locations in the UK."
Philip J Houghton was appointed to the role of managing director earlier this year. A founding partner of Starboard Hotels, former chief executive of Safestay and most recently an advisor to private equity funds on hospitality investment opportunities, he said: "I am delighted to join Supercity Aparthotels, which is a leading brand, owner and operator in the emerging aparthotel sector. I look forward to supporting the growth ambitions of the company as we seek real estate backed opportunities that meet our investment criteria."