Serviced apartment company Oakwood has opened a new office in Beijing, China, building on its presence in the Asia Pacific market.
Oakwood says the office will allow it to better serve companies expanding into China and to bill in local currency and issue ‘fapiao’, a legal receipt that serves as proof of purchase for goods and services. This enables businesses to be reimbursed for taxes and provides documentation to ensure individuals are reimbursed for business expenses.
The firm, a wholly owned subsidiary of Mapletree Investments, has a footprint of 35,000 properties in more than 95 countries, as well as a portfolio of branded locations.
Dean Schreiber, interim CEO of Oakwood and MD for the company’s Asia Pacific business, said: “For many of our clients, having a foothold in China with a local office and trained staff that understands local nuances is a key requirement for servicing multinational accounts. Our clients will be assured of a trusted global partner who understands their corporate travel and relocation needs, and we can better manage their booking requests.
“Oakwood’s expansion in China is an exciting, important step as we continue to enhance our housing solutions across the Asia Pacific region and explore new ways to service our clients and provide value. Oakwood currently has nine branded properties in China, including Beijing, Guangzhou, Hangzhou, Sanya, Shanghai, Suzhou and Yangzhou, with more to come.”
In June, Oakwood became the first corporate housing organisation to receive Agent Accreditation globally by the Association of Serviced Apartment Providers (ASAP).