Earlier this month, Oakwood announced plans tofocus on its braded hospitality services with a goal of doublingits managed properties portfolio by 2025. As part of that plan, thefirm will also implement more efficient and cost-effective policiesto boost owner and investor returns. The firm will achieve thisgoal by blending long and short-term guest experiences.

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"Within the hospitality industry, we seek to deliver higherreturns to owners and investors based on the cost-efficientoperating model that Oakwood offers, without having to compromiseon any service standards," Dean Schreiber, CEO ofOakwood, and managing director of Oakwood Asia Pacific, tellsGlobeSt.com. "With this mix of short- and long-term stays, we arein a unique position to appeal to a broader market and achieve morestable occupancy rates in general."

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The expansion of the firm's portfolio will play an integral rolein achieving these goals. "In support of our goals, we are in theprocess of expanding our product portfolio to our Oakwood-brandedproperties in the U.S., offering serviced residences, meaningfurnished, to business and leisure travelers for both short- andlong-term stays," says Schreiber.

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While portfolio growth is important, Schreiber also emphasizesthe company's commitment to services as well. "With serviceexcellence being a critical success factor for the hospitalityindustry, Oakwood is committed to employee success and talentdevelopment," he adds. "Investing in the learning and developmentof our associates will be a priority so that we can deliver theexperiences that our guests have come to expect, and we will wantto ensure that we deliver that consistently across the portfolio,no matter where they check into."

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These goals a strategic for the near and mid-term. In thelong-term, Oakwood will also focus on development. "In the longterm, our development efforts will continue to ramp up across allregions to ensure that our expansion is balanced across mature andemerging destinations for sustainable growth and business success,"says Schreiber.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.