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Tuesday 25 May, 2021
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Bob W to enter UK with east London building
UK / Finland: Helsinki-based tech-driven hospitality provider Bob W is taking its concept to the UK with a new building currently being constructed in Whitechapel in the East End of London.
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EDITOR'S COMMENT
• The $6 billion proposed sale of Extended Stay America to Blackstone and Starwood Capital is a massive shot in the arm for the extended stay and serviced apartment sectors in general. That two of the largest financial institutions in the world are keen to get a bigger slice of the extended stay market is further proof of not just how well the sector performed over the pandemic, but an endorsement of its potential for further growth and revenue generation.
The fact that several institutional shareholders are vociferously arguing that the proposed $19.50 per share sale price is insufficient just goes to show the belief that the investment community has in the sector.
In the shadow of this titanic transaction, the market is seeing increased activity on the real estate side, with extended stay assets in the US changing hands with increased regularity as we have seen in the headlines this week. The future is looking bright.
• You have until midnight on May 31st to help decide the Rising Star and Industry Inspiration winners in the 2021 Serviced Apartment Awards.
Click here to read about the contenders, and here to cast your votes.
The awards will be presented at a ceremony on June 24th at the Chelsea Harbour Hotel in London. Click here to secure your tickets.
• Scroll down for more of the week's news.
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+44 (0)7535 135 116
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International Hospitality Media is the premier specialist in online publishing; conference, exhibition and events, and advisory services for growth sectors of the hospitality industry. The company publishes three industry-leading b2b websites - BoutiqueHotelNews.com and ServicedApartmentNews.com and ShortTermRentalz.com which keep their respective sectors up to speed with news, comment and opinion.
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