“Investor and market confidence in the long- and extended-stay product will continue to grow, with the sector benefitting from the resilience in occupancy and income shown during the pandemic compared with the traditional hotel market. As the market recovers, we will see increased transactional activity as normality returns and investor willingness to commit to deals resumes.”Read more
After a tumultuous 2020, property’s leading figures share their hopes and expectations for 2021 as the year gets off to a rocky start with yet another lockdown.
Property Week abstract- Forecast for 2021: looking ahead with hope
Thursday, 21st January 2021
Managing Director of Lamington Group and room2 hometels
“We hope to experience a largely V-shaped economic recovery in 2021, driven by the successful vaccines rollout. For the travel and leisure sector, we believe there will be a bounce-back in traveller confidence across the UK from both corporates and consumers. In addition to holidays abroad, we expect to see a release of pent-up demand for UK guests continuing to enjoy the benefits of staycations.”
About Lamington Group
Lamington Group has been established as an investor and developer of residential and commercial real estate since 1967. The Group has a family of brands, including Lamington Apartments, Lamington Lettings, Missionworks, room2 and room2 lite, and actively sources schemes where value can be added through planning and development. The group has a particular focus on expansion in the extended-stay sector which is the fastest-growing segment of the UK’s hospitality industry.
room2 is the UK’s first hometel brand, conceived in 2015. It is the third residential brand launched by the Lamington Group, an independent family-owned real estate investment and development company which was founded in the 1960s and is based in West London
The brainchild of brothers Robert and Stuart Godwin, former members of the British Olympic Development Sailing team, hometels combine the best elements from Airbnb, serviced apartments and boutique hotels in an offering designed to appeal equally to corporate and leisure guests and those seeking alternative forms of residential accommodation. With innovative features such as kitchens in every room, the ability to select your own type of mattress and keyless check-in, room2’s highly flexible offer also includes 24 hour stays as standard with residences available from one night to one year and beyond.
room2 currently has two operational locations, the Southampton Hometel and Hammersmith Townhouse, both of which have performed strongly since opening. room2 has a further pipeline of live projects across the UK with a Gross Development Value of over £100 million, including sites in Chiswick, Manchester, Belfast, Fulham and Liverpool, featuring a mix of wholly-owned assets and those pre-leased to room2 by development partners.