CoStays believes that wasted space and vacant apartments in your buildings should be a thing of the past. Our truly unique “pop-up” hotel scheme and hospitality management programme have been thoughtfully designed to maximise occupancy from the get go whilst adding value for all stakeholders with increased yields and the ability to produce higher returns on investment.
Discover how we can begin working together>
We Partner With
- Build-to-Rent Developers
- Property Developers
- Hotel Owners
- Private Equity Funds
- Asset Managers
- Institutional Owners
- REITS / Real Estate Investment Companies
- HNW & Sophisticated Property Investors
- Commercial Office Space Firms
What We Do>
We Partner With
- Build-to-Rent Developers
- Property Developers
- Hotel Owners
- Private Equity Funds
- Asset Managers
- Institutional Owners
- REITS / Real Estate Investment Companies
- HNW & Sophisticated Property Investors
- Commercial Office Space Firms
Our Unique Pop-up
Hotel Scheme
You may have a new development in planning, or almost due for completion. We can generate another stream of revenue from the get-go. Leverage our professional experience and expertise within the short-term rentals industry by taking advantage of our innovative pop-up hotel scheme and hospitality management services. We completely setup and run your vacant units as short-term rentals with our tech-enabled approach to hospitality. This can dramatically increase your occupancy rates and de-risks cash flow by diversifying your investments, resulting in reduced risk and higher returns for all stakeholders involved.
SO IN A NUTSHELL
How Does It Work?
Appraisal
We first appraise the development to discuss the potential for a pop-up aparthotel scheme and the potential revenue and profit projections achievable. Once agreed, a partnership/management agreement is drawn up by our legal team to allow us to completely set up and operate in the building, as agreed in principle. This is then signed by both parties upon receiving the go ahead from our potential partner.
Planning
We liaise with our partners and the local council to make sure we have the correct planning and licensing in place to operate an aparthotel. The developer may already have correct planning or maybe we can apply for a temporary licence to operate our business.
Design
Our expert, in-house interior design team will then put a proposal together with all costs of furniture and setup included. With various options to suit all budgets, they will work with our partners to deliver maximum value and ensure they don’t exceed the budget agreed upon. They can also advise on the design aspect of the current building renovation project to suit the needs of the hospitality industry.
Setup
We begin the initial setup phase, ideally setting up two or three apartments before the lease-up commences. This gives us a head start, so we can stage, dress, and capture professional photography to start marketing before the official launch. In line with the project completion date, we then set up the rest of the apartments and some basic infrastructure to run the aparthotel, for example signage, operating systems, concierge facilities and tech etc.
Soft Launch
This is where we make our mark with our complete marketing strategy to raise awareness and get all our inventory on-boarded onto the major online travel agent platforms such as Airbnb, Booking.com, TripAdvisor, and many more.
Official Launch
We open the doors to welcome our first lot of guests on the deadline agreed upon in accordance with the lease-up phase and strategy. We begin operating and managing the apartments, providing hospitality living to guests as well as tenants.
Operation
This is where all the hard work pays off, and we generate a new line of revenue from the vacant apartments which would have otherwise sat empty for months or even years. We continue to operate the aparthotel and grow the bottom line to generate completely passive income for our partners for the duration of the contract.
Lease Up
Our partner may continue securing tenancies during the lease-up phase if they wish to. As the apartments are beginning to fill with long-term tenants, we release more apartments, as and when agreed initially. Apartments are emptied and if needed revamped back to their original standards, before handing back the keys to the developer.
Appraisal
We first appraise the development to discuss the potential for a pop-up aparthotel scheme and the potential revenue and profit projections achievable. Once agreed, a partnership/management agreement is drawn up by our legal team to allow us to completely set up and operate in the building, as agreed in principle. This is then signed by both parties upon receiving the go ahead from our potential partner.
Planning
We liaise with our partners and the local council to make sure we have the correct planning and licensing in place to operate an aparthotel. The developer may already have correct planning or maybe we can apply for a temporary licence to operate our business.
Design
Our expert, in-house interior design team will then put a proposal together with all costs of furniture and setup included. With various options to suit all budgets, they will work with our partners to deliver maximum value and ensure they don’t exceed the budget agreed upon. They can also advise on the design aspect of the current building renovation project to suit the needs of the hospitality industry.
Setup
We begin the initial setup phase, ideally setting up two or three apartments before the lease-up commences. This gives us a head start, so we can stage, dress, and capture professional photography to start marketing before the official launch. In line with the project completion date, we then set up the rest of the apartments and some basic infrastructure to run the aparthotel, for example signage, operating systems, concierge facilities and tech etc.
Soft Launch
This is where we make our mark with our complete marketing strategy to raise awareness and get all our inventory on-boarded onto the major online travel agent platforms such as Airbnb, Booking.com, TripAdvisor, and many more.
Official Launch
We open the doors to welcome our first lot of guests on the deadline agreed upon in accordance with the lease-up phase and strategy. We begin operating and managing the apartments, providing hospitality living to guests as well as tenants.
Operation
This is where all the hard work pays off, and we generate a new line of revenue from the vacant apartments which would have otherwise sat empty for months or even years. We continue to operate the aparthotel and grow the bottom line to generate completely passive income for our partners for the duration of the contract.
Lease Up
Our partner may continue securing tenancies during the lease-up phase if they wish to. As the apartments are beginning to fill with long-term tenants, we release more apartments, as and when agreed initially. Apartments are emptied and if needed revamped back to their original standards, before handing back the keys to the developer.
Once our initial agreement has finished
we can progress to:
Hospitality Management
The journey doesn’t need to end here! The developer has the opportunity to continue operating hospitality living in the building under our complete hospitality management programme. This can be for the entire building, or just a part of it so they can enjoy the best of both worlds.
Completion
We discontinue our operations, and remove all furniture and infrastructure once all the apartments are rented to long-term residential tenants in line with the initial agreement and timeline agreed upon.
Master Lease
We can also offer a long-term master lease option giving our partners guaranteed rent and a fixed regular income all year round, for complete peace of mind, leaving them to focus on their next project.
Features
- 24/7 Local Support
- Dedicated aparthotel management
- Hospitality team on the ground
- Housekeeping & Cleaning teams
- Linen supplied and managed
- Stock replenishment
- Cutting edge real estate tech
- Keyless entry, and self check-in facilities
- Virtual concierge
- Automated revenue management and pricing
- Significant Insurance Coverage
- Listing on 60+ online travel agencies (Airbnb, booking.com, etc)
Features
- 24/7 Local Support
- Dedicated aparthotel management
- Hospitality team on the ground
- Housekeeping & Cleaning teams
- Linen supplied and managed
- Stock replenishment
- Cutting edge real estate tech
- Keyless entry, and self check-in facilities
- Virtual concierge
- Automated revenue management and pricing
- Significant Insurance Coverage
- Listing on 60+ online travel agencies (Airbnb, booking.com, etc)
We advertise your vacant units on 60 plus major OTA platforms
Benefits
- Solve a major inefficiency within real estate developments during the lease up phase
- Extra stream of revenue to cover the costs of holding and de-risk cash-flow
- Great profit margin with extremely high earning potential due to high demand for short-term accommodation
- Accelerate lease-ups by offering “try before you rent” to potential tenants before committing to a long-term residential tenancy agreement
- By offering alternative revenue streams, you can diversify your portfolio to reduce risk and increase return on investment for all stakeholders involved.
- Tenants enjoy a number of free night stays allowances which they can give to family and friends who visit them, as guest rooms.
- Completely hands-free management model, resulting in passive income
- 24/7 onsite hospitality team to make sure all guests adhere to building policies and there aren't any disturbances to other residents
- Nothing to lose and everything to gain as the apartments will sit empty for months or years regardless
- By offering alternative revenue streams, you can diversify your portfolio to reduce risk and increase return on investment for all stakeholders involved.
Benefits
- Solve a major inefficiency within real estate developments during the lease up phase
- Extra stream of revenue to cover the costs of holding and de-risk cash-flow
- Great profit margin with extremely high earning potential due to high demand for short-term accommodation
- Accelerate lease-ups by offering “try before you rent” to potential tenants before committing to a long-term residential tenancy agreement
- By offering alternative revenue streams, you can diversify your portfolio to reduce risk and increase return on investment for all stakeholders involved.
- Tenants enjoy a number of free night stays allowances which they can give to family and friends who visit them, as guest rooms.
- Completely hands-free management model, resulting in passive income
- 24/7 onsite hospitality team to make sure all guests adhere to building policies and there aren't any disturbances to other residents
- Nothing to lose and everything to gain as the apartments will sit empty for months or years regardless
- By offering alternative revenue streams, you can diversify your portfolio to reduce risk and increase return on investment for all stakeholders involved.