Adagio is hoping to double its number of aparthotels by 2023.
Despite a challenging 2020, the strong pre-Covid-19 economic health of the brand, and strong growth and performance in recent years, has safeguarded expansion plans.
Throughout the global health crisis, 28 Aparthotel Adagio sites have remained open across Europe, hosting 4,800 overnight stays for front-line nursing staff.
The European aparthotels provider hopes to have 90 per cent of its properties reopened by the end of June, with the UK properties set to reopen their doors to guests in July, in accordance with government guidelines.
Adagio’s extended stay business model has allowed it to cope with the crisis and minimise its collateral damage.
The average length of stay is much longer than in the traditional hotel industry, ensuring a higher occupancy rate over the whole year.
In addition, Adagio’s low variable costs through limited catering, weekly cleaning and optimum use of its spaces allows it to be profitable on a continued basis.
Aparthotels Adagio was founded in France in 2007 as a joint venture between AccorHotels and Pierre & Vacances Centre Parcs.
The original 16 aparthotels located in two countries has rapidly developed into the Aparthotels company of today, with the network operating 116 aparthotels and 13,000 apartments located in 13 countries.