The 90-bedroom hotel, which is operated by Bespoke Hotels, has teamed up with apartment owners within a one mile radius to create Bermondsey SquAIR, which gives its guests the chance to stay in self-service accommodation if they wish, while also having access to hotel services.
Apartments rented through Bermondsey Square will also offer housekeeping, maintenance and give guests an ongoing point of contact. Keys can also be picked up from and dropped off at the hotel's reception, which it said offered a warm, friendly and safe welcome.
"Offering a safe and secure environment, the hotel surroundings offer a comfortable surrounding for those guests who may be hesitant about booking an Airbnb style property or new rental apartment," a hotel spokesperson added.
Apartment owners can also take advantage of a host of services provided by the hotel, including linen hire, cleaning and property maintenance.
“I have decided that it’s time to stop fighting the sharing economy and instead see how we can work together to offer a service which brings our areas of hospitality together to create something unique and of benefit to both parties," said Bermondsey Square Hotel general manager Robert Holland.
"The physicality of the Bermondsey Square Hotel, has been pre-defined, so I wanted to look at exploring other opportunities and avenues to create revenue for the hotel through an interesting and modern service for our neighbours in Bermondsey.
"We already have strong community roots and we want to develop those relationships further. I hope that Bermondsey SquAIR will be an opportunity to create new partnerships that extend throughout Bermondsey and inspire those beyond.”
Hotel owners have been forced to come up with new initiatives to help keep a market share faced with the rise in popularity of websites like Airbnb. Earlier this year AccorHotels bought home rental service onefinestay and a stake in private rental chain Oasis Collections as a way to offer its guests what they may find through sharing sites.