Oakwood Sees No Limits to Development Pipeline

“We really see no limits to our development pipeline,” Dean Schreiber, CEO of Oakwood and managing director of Oakwood Asia Pacific, tells GlobeSt.com about the firm’s geographic focus. Last month, the investor announced plans to significantly expand its hospitality services with a goal of doubling its branded properties by 2025. The firm plans to execute that strategy globally, starting in the US, Europe and the Middle East.

“Our first focus is where our guests want us to be and through our business knowledge, we know where our clients want to stay, the type of accommodation they need, be it studios, one or two-bedroom apartments, and price points,” Schreiber says. “Through operating a stable hybrid of long and short stays, we know if we open a property, exactly how quickly we can fill it and at what rate. This also gives owners the reassurance when they sign up with us, what they can expect from day one.”

Oakwood currently has 20 properties slated to open in Asia Pacific in the next two years, two properties in Dubai in 2021 and active proposals in Philadelphia, Raleigh, Atlanta and San Francisco. “We are keen to expand our portfolio further into the US and Europe but we are also exploring new markets having recently signed our first two properties in the Middle East and seeing an increased number of enquiries from owners in the region,” adds Schreiber.

Resort locations are also at the top of Oakwood’s expansion list, including locations in China. “We have recently signed two properties in a ski resort in Chongli, China, which is within the Beijing 2022 Winter Olympics Zone,” says Schreiber. “The fact that guests are looking for alternatives to hotels for their vacations is not new but having the serviced residential comfort and security of a global brand in these resorts is something that has really taken off for us. So growing Oakwood’s brand presence in major vacation destinations will certainly be part of the development plan.”

Australia is another market top market for the firm. “We have also been focusing a lot on Australia, which as a market, likes the serviced apartment model but has been saturated with local brands,” says Schreiber. “There is thus this highly competitive advantage for Oakwood to be the best-in-class operator in that market, having recently signed a flagship property in Melbourne, Oakwood Premier Melbourne.”