Aparthotels Adagio is planning to double its portfolio by 2023 and will have 113 properties by the end of 2019.
The company currently has a presence in Europe, Latin America, the Middle East and Russia and hopes to have 220 aparthotels worldwide within the next four years, including 170 in Europe.
Adagio says it has major expansion plans underway this year, with recent openings in France and two further new properties set to open in Paris this summer.
In October 2018, the company opened its first aparthotel in London in Brentford, and has also seen the opening of properties in Bremen, Casablanca, Jeddah and Amsterdam. A location in Leicester is due to launch by the end of the year.
Adagio has properties signed and under construction in Brussels, Kiel, London, Suresnes, Zurich, Glasgow, Dubai, Freiburg, Bucharest and Sochi, among others.
Thomas Lamson, chief development and projects officer, said: “2019 marks a major turning point for Adagio. Beyond the many openings scheduled, we plan to sign more than 20 new contracts worldwide this year. These new signings are regardless of the management mode, whether they’re lease, management, or franchise. The dynamism of all teams and the local presence of developers in major markets such as the United Kingdom, Germany, or France are essential to quickly meet the needs of our partners.”
Adagio became a member of the Association of Serviced Apartment Providers (ASAP) in 2018.