Luxury serviced apartment provider Oakwood Worldwide is rolling out a hefty expansion plan for the Asia-Pacific region, with an eye on growing its global portfolio of properties from 48 to 150 by 2021.
Dean Schreiber, managing director of Oakwood Asia Pacific, told TTGmice that upcoming projects to meet this goal will be developed â€śpredominantly in Asia-Pacificâ€ť.
In South-east Asia, Oakwood has signed to develop properties in Jakarta and Thailand.
Schreiber said: â€śChina is a massive area for us in terms of growth potential; likewise, weâ€™re seeing very good growth in Indonesia. In Thailand, weâ€™ve just signed a deal to roll out 10 properties over the next 10 years.
â€śWeâ€™re exploring some new geographies this year too. Weâ€™ve signed our first deal in Cambodia, weâ€™re looking at some opportunities in Sri Lanka and weâ€™re also targeting some leisure destinations. Phuket and Pattaya are the first couple of opportunities (for us).â€ť
The group plans to place one Oakwood Studios and multiple Oakwood Premier properties in each key Asian city.
Although Oakwood Studios targets millennial corporates, the brandâ€™s debut in Singapore has also attracted traditional business travellers and enjoys a diverse guest demographic, said Schreiber.
To ensure a consistent quality and feel to its properties across the region, Oakwood last week (January 10) launched The Oakwood Showroom in its corporate office in Singapore for property owners to view and purchase in-room amenities.
The showroom is a mock-up of a suite that features the latest gadgets, furnishings and other homewares from various product partners, such as Samsung, Bang & Olufsen and Serta.