Oakwood Worldwide Sustains Global Momentum with Multi-Region Expansion, Launch of New Oakwood Studios Offering
Aggressive global portfolio growth in APAC, EMEA and the United States
LOS ANGELES, July 19, 2016 /PRNewswire/ -- Oakwood Worldwide, the global leader in corporate housing and serviced apartment solutions, today announced its plans for continued growth and global expansion with new branded properties throughout key regions. As part of the expansion, the industry-leading corporate housing solutions provider will establish an Oakwood-branded presence in several new countries, in addition to launching a new product, Oakwood Studios.
The most significant growth will take place within the Asia Pacific region, in which Oakwood Asia Pacific will grow its portfolio by more than 40 percent through 2017. The growth includes the just opened Oakwood Hotel & Apartments Brisbane, the company's first branded property in Australia, and expansion of branded properties into Singapore, Malaysia and Vietnam; while simultaneously solidifying its presence in existing key markets, such as China and Japan.
"The growing demand we are seeing for our service solutions and branded properties can be attributed to several key factors, including an increased awareness of corporate and serviced apartments and their benefits over traditional hotel offerings for longer stays, as well as an increasingly mobile workforce," said Christine Moore, vice president, global marketing, communications and revenue management, Oakwood Worldwide. "Corporate and serviced apartments offer the room to spread out and engage in the culture of a location, while also enabling travelers to feel more at home with fully equipped kitchens, spacious living areas and separate bedrooms, with multiple tiers of luxurious appointments, depending on the travelers lifestyle and budget."
In November 2016, Oakwood Asia Pacific will be launching Oakwood Studios. This is the fourth product category to launch under the Oakwood brand name in Asia joining Oakwood Premier, Oakwood Residence and Oakwood Apartments. The opening of Oakwood Studios Singapore will mark a milestone for Oakwood Asia Pacific because the property will be both the launch of Oakwood Studios, as well as the first Oakwood-branded property in Singapore.
"Oakwood Studios will be located in dynamic cities with vibrant scenes, offering guests an authentic urban experience complemented by unpretentious, tech-enabled spaces, allowing one to seamlessly alternate between work and leisure," said Paul Stocker, vice president sales, marketing and revenue management, Oakwood Asia Pacific. "Whether you're on a long-term relocation, short-term project or a business trip, Oakwood Studios is perfect for the urban global traveler that values a vibrant environment to kick back, relax and take in the city for work and leisure."
In addition to Oakwood Studios, an extension of the Oakwood Residence product tier - Oakwood Hotel & Residence, will open later this year in Kuala Lumpur, Malaysia and Suzhou, China. This extension of the brand will allow guests, whose needs may vary depending on the length of their stay, to choose between hotel rooms and serviced apartments, while still enjoying the offerings of an Oakwood property.
The new Oakwood Hotel & Residence Suzhou is just one example of how Oakwood is growing its presence strategically in China. Oakwood looks to expand into second and third tier cities, doubling its current inventory in the next five years. Likewise, Oakwood will cement its position in Japan with its 10th property, Oakwood Apartments Minami Azabu, slated to open in Tokyo in August 2016. With this addition, Oakwood will be the most dominant operator of serviced accommodation in one of the world's most metropolitan cities.
In the EMEA region, Oakwood Worldwide has added three new locations to its London portfolio: Oakwood Lincoln Plaza, Oakwood Kensington and Oakwood Fitzrovia. The luxurious serviced apartments offer open-plan living spaces, beautiful interiors, premium furniture, fully equipped kitchens and high-end fixtures and fittings. Additional amenities include high-speed internet, SMART TVs, Bluetooth® speakers and weekly housekeeping service.
As part of its joint venture with Singapore real estate development, investment and capital management company, Mapletree Investments Pte Ltd, Oakwood Worldwide has recently increased its branded presence in the U.S. with three new branded properties in the Silicon Valley region, as well as new properties in Dallas; Seattle; Portland, Ore.; Raleigh, N.C.; and Los Angeles. Additional branded properties in the United States are in the pipeline and will be announced at a later date.
About Oakwood Worldwide®:
Oakwood Worldwide® is the premier provider of corporate housing and serviced apartment solutions through its well-known brands, Oakwood®, ExecuStay® and Insurance Housing Solutions™. With a presence in all 50 United States and more than 88 countries, the award- winning company provides move-in-ready furnished accommodations to meet the needs of global organizations, individual business travelers, insurance clients and leisure travelers alike. Oakwood Worldwide was founded in and continues to base its corporate headquarters in Los Angeles and operates regional headquarters in London, Phoenix and Singapore. For more information, please visit OakwoodWorldwide.com.
About Oakwood Asia Pacific Ltd.:
Oakwood Asia Pacific Ltd operates an award-winning portfolio of 27 Oakwood branded properties in 15 cities across eight countries and territories in Asia, with ongoing developments in strategic locations across the region. The Oakwood brand in Asia offers four product tiers: Oakwood Premier, Oakwood Studios, Oakwood Residence and Oakwood Apartments, each designed for a different lifestyle. Oakwood Premier caters to travelers who seek luxury and style, combining impressive apartments with amenities and services of luxury hotels. Catering to global nomads, Oakwood Studios adds a new dimension to urban city stays, offering more urbane travelers seeking authentic experiences a casual and unpretentious space to work, live and thrive. Oakwood Residence offers spacious and elegant apartments that capture all the comforts of home, while Oakwood Apartments provides chic accommodation with modern essentials.
For more information about Oakwood Asia Pacific Ltd and its award-winning properties and locations, please visit OakwoodAsia.com
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SOURCE Oakwood Worldwide
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