Tuesday 08 December, 2020 TOP STORY BridgeStreet's agency business to change hands as operations arm goes in to administration LATEST NEWS If you missed our last newsletter....check out the stories below
• Radisson to double EMEA serviced apartment portfolio FEATURES VIDEOS/PODCASTS EDITOR'S COMMENT
• It's always sad when a company in our industry hits hard times, but news of of BridgeStreet's UK-based hospitality arm being placed in to administration has a particularly personal resonance here at IHM, as it was the support and encouragement we received from members of the BridgeStreet team that prompted us to become involved with the serviced apartment sector in 2013. We will always be grateful to them for setting us on our journey.
The brand has been among the most prominent in the sector in that time, and it is a real shame that its name will no longer be above the door of serviced apartments in Europe or beyond.
The agency side of the BridgeStreet business is being bought by a leading corporate housing company, whose identity is not known to us at this stage, with the deal taking place at the moment. It remains to be seen whether the brand will be retained after the transaction, but we wish BridgeStreet staff all the very best at what must be a very unsettling time during this most unsettling of years.
• The success of the serviced apartment sector in recent months has not gone unnoticed by the hotel industry. This week the Hyatt Regency Bangkok Sukhumvit Hotel launched a special one-year stay package to attract business clients.
The hotel, and others, has its sights on what has traditionally been serviced apartment business, with GM Sammy Carolus saying: "It's just like a 12-month stay at a serviced apartment but with many things beyond that. We aim to have 100 members by the end of 2020 and a total of 150 by the end of March 2021, which is the end of this campaign."
• Join us on Friday at 2pm GMT for an Urban Living webinar discussing Airbnb's IPO and its impact on hospitality. Click here to register for the no-cost session.
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George Sell, editor
For more information and sponsorship/advertising Katie Houghton
Group head of sales: +44 (0)7535 135 116
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