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Oakwood Worldwide signs with Mapletree Group for serviced apartment expansion

Oakwood Worldwide signs with Mapletree Group for serviced apartment expansion

19 May 2014 Hotel News

Oakwood Worldwide and Mapletree Group have signed a corporate and serviced apartment joint venture that aims to open more than 100 new properties around the world over the next five years. Mapletree will acquire a 49 percent stake in Oakwood Asia Pacific, Oakwood Worldwide’s serviced apartment business in Asia, and will target acquiring and developing some US$4billion worth of corporate and serviced apartment assets within Asia, Europe and North America.