The Irish-owned Aparthotel operator Staycity Group will aim to triple their size over the next five years after it has received a £ 77 million loan from the Oaknorth Bank.
Founded in Dublin in 2004, the StayCity Group maintains two Aparthotel brands: Staycity Aparthotels, with seven locations in the United Kingdom and Lifestyle Wilde brand (pictured) with six UK sites.
The StayCity Group currently has 6,000 keys in 36 Aparthoti in the UK and Europe. An £ 77 million loan will increase its upcoming growth as a company is targeted at 18,000 keys throughout Europe by 2029.
This year in the UK, the Staycity Group opens Wilde Aparthotels in Cambridge and London, and the extra site is currently under development in Oxford.
The recent expansion of the StayCity group includes 124 homes in Dalston, London, and the 98-dwelling share in the heart of Belfast.
Tom Walsh, CEO of Staycity Group, said: “Staycity has been operating for 20 years and we have always expanded and developed as an organization, but always focused on ensuring that our customers have a great experience with us. ‘
Deepesh Thakrar, the senior leader of Oaknorth’s debt funding, said: “Staycity is one of Oaknorth’s most important success stories – after it was originally funded by 2020, it has grown significant. Its strict selection of the site and a tightly controlled procurement pipeline have helped to increase profitability at both the place level and at the group level. We are very looking forward to Staycity’s constant growth and success. “
