Also announced is the formation of a new parent company which will consist of the corporate focussed SilverDoor brand and Worldview’s Citybase, Central London Apartments and Orbital Partnership brands.
The acquisition unites the world’s leading serviced apartment agents and ensures clients of all brands within the new parent company receive an unrivalled serviced apartment booking experience, utilising the very best technology and expertise in the sector.
SilverDoor Managing Director, Marcus Angell said: “While some companies are approaching a potential Brexit with trepidation, the serviced apartment market is set to double in size over the next two years and now is the ideal time to consolidate and strengthen our position as the world’s leading agents. We’ve always strived to raise our serviced apartment industry standards and we’re excited that this new proposition will provide clients with an unrivalled booking experience and a greater range of serviced apartment options. SilverDoor and Citybase provide two very successful yet distinct offerings which complement each other perfectly.”
Citybase co-founder and Director of Digital & Leisure Strategy, Stuart Parker said: “We share a belief that between our brands we offer the world’s finest serviced apartment booking solutions for business travellers and private clients. Our combination of the most cutting-edge and effective technology alongside exceptional, award-winning account management will ensure the SilverDoor & Citybase brands continue to be recognised as the global serviced apartment specialists.”
SilverDoor’s acquisition has been advised by Crowe Clarke Whitehill and Cripps LLP with funding from Barclays. The new parent company forecasts a combined turnover of £75M, has 130 employees and 900 property partners around the world with a combined inventory of 160,000 individual serviced apartments.