Subject: Friend, are you ready for the co-living movement? Homelike launches in the Netherlands, Adina set for 2020 opening in Munich and more

 Newsletter December 14: a glimpse of the future
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Medici Living raises €1 billion
for European co-living push

Germany: Berlin-based co-living company Medici Living has raised €1 billion and intends to become “the WeWork of co-living”. Read more...

Adina to open Munich property in 2020

Germany: TFE Hotels will add to its European portfolio of 11 properties in 2020 when the Adina Apartment Hotel in Munich opens.

GuestReady expands in Portugal and France

UK: Short-term rental management company GuestReady has acquired Oporto City Flats and will manage the portfolio of French Airbnb manager We Stay In Paris.

KeyNest adds automated lockers to its service

UK: Key exchange service provider KeyNest has expanded its network to 1500 stores across the UK, in a move that will provide key exchange for serviced apartment providers nationwide.

Homelike continues expansion with Netherlands launch

Netherlands: Homelike, a B2B booking platform for furnished apartments, is launching in Amsterdam this month initial with 1,000 units in Amsterdam.

WoodSpring Suites makes Nevada debut

US: Choice Hotels has teamed up with Brookwood Hotels to open WoodSpring Suites Reno Sparks, the brand's first hotel in Nevada.

US: The Residence Inn Miami Airport will undergo a major renovation during 2019.

A glimpse of the future

• Something big is happening in the word of real estate, and forward-looking serviced apartment operators are well placed to get involved.

The co-living sector is hot right now and getting hotter as Medici Living’s massive €1 billion project to become the “WeWork of co-living” amply demonstrates. Medici has teamed up with the Frankfurt-listed investment manager Corestate Capital to deploy the equity and debt over the next three to five years to buy and develop 35 co-living facilities comprising up to 6,000 units across Europe.

The facilities will be operated under Medici's Quarters brand. In addition to Medici's current European target markets of Germany, the UK and the Netherlands, the investment program will focus on Austria, Switzerland, Spain and Poland. It is also eyeing the US.

Corestate chief executive Michael Bütter says: ”Urbanisation, young people's desire for community as well as the opportunity to live and work in different cities, are boosting demand for communal residential space.”

The concept is not a million miles from the offer of some of the new design-led aparthotel brands, and certainly has a lot of synergy with challenger brands such as Zoku, and Roam for example. Co-living was named the sector with the best prospect for growth in Europe in 2019 by the ULI and PwC's Emerging Trends in Real Estate Europe 2019 report - and our industry has the skills and the vision to be part of that growth.

Lots of co-work / co-live thought leaders will be discussing the future of urban living and mixed use development trends at next month's Serviced Apartment Summit RECHARGE 2019, including Corestate Capital too. There are just a small number of tickets remaining before sell out.

Our next and last e-newsletter of the year with be December 21st before the Christmas and New Year break. Until then.....

George Sell, editor, Serviced Apartment News

Event review: 2018 ASAP convention

SAN editor George Sell reports from the 2018 ASAP convention in London.

Serviced apartments: the investment angle

Simon Behr, director of sales at German developer GBI AG, looks at how serviced apartments have become a preferred type of investment and what makes them so attractive.

Get involved in our events...

22-23 January 2019
Berlin, Germany
21-22 February 2019
Bangkok, Thailand

14th March 2019
London, UK

10-11 April 2019
New York,USA

9-10 July 2019
London, UK
November 2019
Various Locations 
Click here to see our full list of events
Interview: Radisson's Elie Younes on serviced apartments and extended stay
Heretostay TV: SAS RECHARGE, Amsterdam 2018 report


George Sell. 


Katie Houghton

Head of Sales

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