Published on : Wednesday, January 3, 2018
Finance director Colm Whooley said that Staycity expects 2017 turnover to have grown by 25%, with strong profit margins remaining in line with that of previous years.
“Last year’s results will show growth in turnover and profits for the group,” he said. “During 2017 the board signed off on the company’s five year business plan which will see us operating 15,000 keys by 2022.
“Brexit and general economic environment have remained a risk but we have attempted to reduce that risk where possible with a strategy of growing the business across a number of markets and actively managing currency exposure through foreign exchange hedging,” he added.
During 2017 the Dublin-based company opened aparthotels in Marseille, Lyon and Manchester as well as revealing details of a new premium brand, Wilde Aparthotels by Staycity, the first of which will open in London this Spring, with a second to follow in Edinburgh in 2019.
Later this year Staycity will open in Liverpool’s Corn Exchange building in the heart of the city’s commercial region close to James Street Merseyrail Station, Albert Dock and the leisure development Liverpool One. The property is made up of 212 one- and two-bed apartments.
New locations for 2019 include a 284-key aparthotel near Disneyland Paris with swimming pool with bar and deck, full restaurant, café and lounge area, bar, 183 parking spaces and lakes and gardens. The development is adjacent to Euro Disney in the busy Val d’Europe area.
In early 2019 the company will open in the Venetian mainland suburb of Mestre, part of the territory of the city of Venice, with 175 units. The location is often the preferred starting point for tourists visiting the historic city.
The year will also see the opening of a prestigious Wilde Aparthotel forming part of Charlie Living, one of several new buildings located at the former Checkpoint Charlie on the Friedrichstrasse in Central Berlin. The 48-apartment building is one of two Staycity properties opening in the German capital.
Another site will be added to the group’s Dublin estate in 2019 when it opens in Chancery Lane in the city centre, with 50 apartments. A further 142 apartment building will open its doors on Mark Street in 2020. By 2021, the company expects to have 1,500 keys operating in Dublin.
Preliminary work is also underway on a third Manchester property in St Peter’s Square, expected to open at the end of 2019 with 250 apartments.
“These aparthotels are all in fantastic locations and offer exciting opportunities for us to grow our brand and our estate. The company now has the right team in place to enable and facilitate this expansion, although we look forward to recruiting locally for each of our new properties over the course of the next 12 months,” commented Staycity CEO and founder Tom Walsh.
“This year will be a pivotal one for Staycity with several more deals about to be signed on sites across Europe, as well as the opening of our first Wilde Aparthotel,” he added.