The New Kid On Birmingham's Hospitality Block
Native, the aparthotel brand, has submitted a planning application to open a 173-room aparthotel at Louisa Ryland House, Edmund Street, Birmingham.
The 82K SF former office block, owned by Euro Property Investments, will join two other Native outlets in London and Manchester, and comes as the serviced apartment sector begins to break-through in the city's crowded hospitality market.
The so-called extended-stay sector is said to record occupancy levels above 80% in the U.K., and is expanding fast after a false start earlier in the decade. In 2017 stock levels of extended-stay serviced apartments rose around 14% according to projections from Savills. This growth was largely driven by deals in London.
However, the aparthotel sector outside London has faced tougher headwinds. Across the U.K. regions excluding London, serviced apartment occupancy fell 1.7% to 79.7%, with room rates rising modestly by 1% to £93.71, according to Relocate Global. However, these figures compare well with the hotel sector.
