Both developments are in partnership with Union Hanover and EquityBridge Asset Management. The new developments will open two years apart, the first expected to open its doors in 2016.
Commenting on the UK expansion, Martine Balouka-Vallette, CEO Aparthotels Adagio, said: “Launching in London is central to the development of the Aparthotels Adagio brand in Europe and globally. London is the place to be for business and leisure. Opening in London is integral to our business and has been a priority since Adagio was launched in 2007. We now have the right opportunities to launch Adagio is the city with two exciting openings which will deliver for the burgoening extended stay market in London and Europe. Greater availability and increased consumer demand are driving the serviced apartment growth in the UK and Adagio will play a major part of this continued growth in years to come.”
Adagio will open on Whitechapel Road, London in 2016 following the conversion of a major office building, Black Lion House. The 217 apartment property will be located in the heart of East London with good connections to the City as well as the cultural and creative heartland of Brick Lane.
Launching in 2018, the 137 apartment Adagio London Stratford will strengthen the brand’s London presence. The new build development on Celebration Avenue in East London’s Stratford district continues the Olympic legacy and the development of the Olympic Park site and ‘East Village’.
Adagio’s innovative aparthotel concept has been successfully rolled-out across Europe and is now developing across the UK, following the UK launch of Adagio in Liverpool last year and the planned development in Edinburgh announced last month and Birmingham, due to launch in 2015.
Aparthotels Adagio are aimed primarily at mid and long-stay visitors and provides hotel services and fully-furnished studios and one and two-bedroom apartments, complete with kitchens and bathrooms, to provide high quality self-catering accommodation for extended stays based on attractive tiered pricing from fourth night onwards.
Union Hanover managing director Eric Jafari and his counterpart Warren Malschinger, managing director for EquityBridge Asset Management commented: “Its been a pleasure working with Adagio’s team who have been very committed and commercially minded in their intent to create a mutually beneficial arrangement.”
Accor UK & Ireland Managing Director, Thomas Dubaere, added “London continues to be a key market for growth and we are committed to strengthening all of our brands in the city, and indeed throughout the UK. The success of Adagio’s growth is testament to our ability to innovate in hospitality and continually bring new ideas and offerings to our guests.”
Martine Balouka-Vallette, CEO Aparthotels Adagio, added: “The addition of two new London addresses is an important milestone in the global development of Adagio. The business has seen solid growth in recent years and we are on track to open 150 aparthotels worldwide by 2016 in particularly in Latin America, Middle East and Russia.