Hotels and BTR

Hotels BTR

The Castings [Credit: CDL Hospitality Trusts]

If you also subscribe to our sister media brand Serviced Apartment News, you would have received yesterday’s newsletter in which I commented on the sector’s crossover with build-to-rent (BTR). For context, a serviced apartment operator may manage a proportion of BTR inventory for short-to-medium stays. Within the hotel sector, the crossover isn’t as straight forward from an operational standpoint, however some owners, investors and developers have diversified their real estate portfolios.
CDL Hospitality Trusts, which owns The Lowry Hotel in Manchester, will this June launch a lifestyle build-to-rent community behind Manchester Piccadilly station called The Castings. It will become the first residential venture for the group, which currently has a global hotel portfolio spanning Europe and APAC. 
The launch of The Castings can be seen as another example of the desire for elevated living, mirrored in the demand for branded residences. Blending the service levels of hospitality and hotel-style amenities with longer-term, affordable accommodation certainly has its appeal, and even more so during an age of high costs. Travellers, guests, tenants – they want more bang for their buck, and many owners and operators will be exploring novel ways to deliver greater value for their customers and drive return on investment. 

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