Oakwood Will Implement a Cost-Effective Strategy to Boost Returns
As part of the firm’s new plan to double its managed properties portfolio, Oakwood will seek to deliver higher returns to owners.
Earlier this month, Oakwood announced plans to focus on its braded hospitality services with a goal of doubling its managed properties portfolio by 2025. As part of that plan, the firm will also implement more efficient and cost-effective policies to boost owner and investor returns. The firm will achieve this goal by blending long and short-term guest experiences.
“Within the hospitality industry, we seek to deliver higher returns to owners and investors based on the cost-efficient operating model that Oakwood offers, without having to compromise on any service standards,” Dean Schreiber, CEO of Oakwood, and managing director of Oakwood Asia Pacific, tells GlobeSt.com. “With this mix of short- and long-term stays, we are in a unique position to appeal to a broader market and achieve more stable occupancy rates in general.”
The expansion of the firm’s portfolio will play an integral role in achieving these goals. “In support of our goals, we are in the process of expanding our product portfolio to our Oakwood-branded properties in the U.S., offering serviced residences, meaning furnished, to business and leisure travelers for both short- and long-term stays,” says Schreiber.
While portfolio growth is important, Schreiber also emphasizes the company’s commitment to services as well. “With service excellence being a critical success factor for the hospitality industry, Oakwood is committed to employee success and talent development,” he adds. “Investing in the learning and development of our associates will be a priority so that we can deliver the experiences that our guests have come to expect, and we will want to ensure that we deliver that consistently across the portfolio, no matter where they check into.”
These goals a strategic for the near and mid-term. In the long-term, Oakwood will also focus on development. “In the long term, our development efforts will continue to ramp up across all regions to ensure that our expansion is balanced across mature and emerging destinations for sustainable growth and business success,” says Schreiber.