| Oakwood Asia Pacific, a division of the Los Angeles headquartered Oakwood Worldwide, the largest chain of serviced apartments worldwide, launched its first serviced apartment in India, in Pune.
|
| |
| The company also announced plans to expand its portfolio to include at least eight more properties across India over the next two years.
|
| |
| Its first property in Pune Oakwood Residence Naylor Road is targetted at the international business travellers. Later this year Oakwood Premiere Mumbai and Oakwood Premiere Prestige Bangalore will be launched.
|
| |
| Followed by the launch Oakwood Residence Hyderabad in 2008. In 2009 the company will add four more properties to its portfolio, wherein both Pune and Bangalore will get a second serviced apartment and the company will also expand to cover Chennai and New Delhi.
|
| |
| We are also looking at Kolkata and Goa for further expansion, said Veronique Sirault, General Manager, Oakwood Residence.
|
| |
| Presently, Oakwood Asia Pacific has 12 properties in the Asia Pacific spread across China, Thailand, Korea and Japan.
|
| |
| We plan to open 19 more in the region in the next 2 years, said Sirault. With over 20,000 apartments globally, Sirault is optimistic about a minimum 55 per cent occupancy after nine months of operations in Pune.
|
| |
| We are already experiencing a lot of cross sales, especially within the Asia Pacific region, she said.
|
| |
| Oakwood operates properties under four brands Oakwood Premier, which provides five-star service, Oakwood Residence four-star properties with full service, Oakwood Apartments four-star properties with limited service and Oakwood Corporate no service properties. It also recently launched Oakwood Resorts and Oakwood Premier Resorts which are furnished residences and villas in resort destinations.
|
| |
| In India the company is bringing in its top two brands and would also consider the Resorts brand for popular tourist places like Goa, said Sirault.
|
| |
| In Pune, Oakwood has partnered with Panchshil Realty for both its projects and will take the partnership route for expansion through out India. It has 84 apartments of 1 and 2-bedroom hall kitchen (BHK), priced at Rs 10,000 and Rs 14,000 for the single and double BHK for single night occupancy. |
| |
|
| |
Content Guide
