Speaking at the Serviced Apartment Summit in London earlier today, Staycity chief executive Tom Walsh said cities such as Edinburgh, Liverpool, Manchester and Birmingham offered a 'healthy mix of business and leisure guests' and due to an under-supply of serviced apartments made ideal targets for the company.
“These markets are very resilient in tough times and show impressive trading in good times so they are the obvious places to gain a foothold," he said. "The mix of business also suits the Staycity offer and gives us a balanced customer base."
The Dublin-based business, which gained €20m-worth of capital funding from Swedish investment firm Proventus Capital Partners in March, currently operates 1,000 apartments across eight European cities, five of which are in the UK.
It will open new aparthotels this year in Birmingham Newhall Square and Lyon with openings earmarked in Covent Garden, York and Marseille for next. By the end of 2016 Staycity will operate 2,000 apartments.
As well as key cities in the UK, Staycity is planning to expand further into France, Germany, Spain, Italy and the Nordics.
“It’s an exciting time for Staycity. We are currently seeking properties across our key target markets and have a healthy ongoing development pipeline and a number of deals to be announced shortly," said Walsh.