Week2Week makes ex-hotel acquisition
North-eastern serviced apartment provider Week2Week has acquired a former Jesmond hotel in Newcastle as part of plans to double its portfolio by the end of the year.
This is the first in a number of upcoming expansions for the Newcastle-based organisation, which has numerous locations across Newcastle in its name.
The acquisition will see Week2Week take over six fully-serviced apartments and means the properties in the new block will join existing accommodation managed by the company in the Fenwick Terrace region of the suburb. The news comes off the back of a three-year 37% increase in sales for Week2Week and a planned 50% inventory growth over the coming year.
Claire Parry, Director, Week2Week said: “It’s always good to grow the business, but we’re striking while the iron is hot, building on the continuing good news and keeping the momentum going.
“The new locations we have just acquired have us set to continue offering fully-serviced apartments in Newcastle and the surrounding areas.”
Week2Week has been active in pursuing new and growing markets, having been awarded the Great China Welcome charter in February.
It has also been shortlisted for the ‘conquering the new market’ category at the annual North East Exporter Awards this month (June).