Oakwood Apartments portfolio’s total inventory is expected to nearly double to a total of 1,078 keys within the year.
ÒWe are expanding our portfolio of ÒOakwood ApartmentsÓ properties in China and Japan Ð markets where we have a strong presence,Ó said Dean Schreiber, managing director of Oakwood Worldwide, Asia Pacific. ÒIn our portfolio we offer a full range of products, each designed to cater to a different lifestyle, from relocating families and travelers seeking a community vibe, to an increasing number independent travelers who treasure mobility, utility and convenience Ð and this is where ÒOakwood ApartmentsÓ is the most appropriate product that meets their needs.Ó
In Japan where Oakwood currently operates 11 properties, Êthere are plans to introduce two new Oakwood Apartments properties. Oakwood Apartments Nishi-Shinjuku, Tokyo Ð a 40 unit serviced apartment in western Shinjuku offering a choice of studio or one-bedroom apartments is slated to open in the second quarter of the year. Oakwood Hotel & Apartments Shin-Osaka, opening its doors in the third quarter, will be the first property to be introduced outside of Tokyo and will offer 185 rooms and serviced apartments.
In China, the Oakwood Apartments product will be making its debut at the end of the year with projects in Yangzhou and Sanya. These two cities are part of Oakwood’s strategic expansion into the country’s second and third-tier cities. Offering 144 units and 163 units respectively, both properties will be the first Oakwood property to be introduced in their respective cities.
