SACO: The Serviced Apartment Company announces growth plans

By Liam Garrahan contact

- Last updated on GMT

SACO: The Serviced Apartment Company announces growth plans

Related tags: Real estate, United kingdom, London

The Serviced Apartment Company (SACO) has announced that it is to double the size of its operation.

The plans, which were outlined as part of Savills’ report on the performance of the serviced apartment sector​, are laid-out in-line with the growth in demand from business and leisure travellers.

Stephen Hanton, chief executive of commercial for SACO, said that the company plans to focus on Scotland.

“Demand from business and leisure travellers for serviced apartments and aparthotels continues to grow strongly and, to meet this, SACO will be doubling in size in the next few years,” he said.

“In the next two years alone, we will be opening six properties in the UK and Ireland, with a particular focus on Scotland where we will open new properties in Edinburgh and Aberdeen.”

He also spoke about SACO’s plans to grow in London and across Europe.

“We are planning a series of property openings towards the end of 2016 including our 170 unit at Leman Street, in the City of London, and this is just the start as we are also looking forward to expanding our aparthotel concept across key destinations in Europe, and are already looking at a pipeline of new property acquisitions.

“We envisage that the public’s awareness and perception of aparthotels is evolving quickly and it’s exciting for SACO to be at the vanguard of this change and growth."

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