London, UK, May 10, 2022 — Today, Synergy Global Housing (Synergy), a leader in serviced accommodation programme management, announced the launch of its newest professionally managed property, its first in Germany, Synergy @ 1487. Located in the heart of Munich, these stylish two-bedroom apartments mark the latest offering in a string of recent property announcements, which has seen the company’s European managed portfolio grow by 258 percent since the start of 2022.
“We’ve entered a strategic and purposeful growth phase as we look to expand our managed portfolio to ensure our clients have access to affordable apartments as they ramp up relocations and business travel again,” said Stephen Hanton, President International. “Our approach is to seek exceptional partners, like those at the 1487, that can help us answer client demand with high-quality apartments backed by exceptional, attentive, around-the-clock hospitality services”.
Affordable apartment inventory is in high demand worldwide. As global inflation reaches new heights and an overheated housing market drives a record amount of people into the rental market, apartment supply around the world is experiencing an unprecedented availability crisis, which in turn is driving rental rates to new records. Meanwhile, corporate client demand is spiking as return-to-work policies commence, triggering a release of pent-up relocation and business travel worldwide.
“It’s no secret: finding an affordable apartment is tough these days no matter if you’re in San Francisco, New York, Dublin, London, Hyderabad, Singapore, or Beijing,” said LauraJane Igoe, Supply Chain Manager, EMEA. “To better control market uncertainty and rising rents, we approached our partners at the 1487 and worked out a creative deal to stabilize our position in Munich and guarantee access to quality apartments at an affordable price point”.
Synergy @ 1487 offers guests and clients alike best-in-class apartments in a highly sought-after global business centre providing coveted and affordable access to corporate clients around the globe. Not to mention, it’s Synergy’s third EMEA plastic-free property, entirely void of single-use plastics and micro-bead toiletries.
Founded in 1999, Synergy is an international serviced accommodation provider headquartered in San Ramon, CA, delivering a superior hospitality-driven extended-stay experience to the business travel and mobility industries. Providing best-in-class housing and services in over 2,000 cities in more than 85 countries, the company has offices in China, Singapore, India, England, Ireland and multiple locations throughout the United States.
Recognized globally, Synergy’s recent awards include 2022 and 2021 Corporate Housing Provider of the Year from the Forum for Expatriate Management (FEM) in the Americas region and the 2021 in EMEA region; 2021 and 2020 Corporate Housing Provider of the Year from the Corporate Housing Providers Association (CHPA); 2020 Corporate Business of the Year from the Association of Services Apartment Providers (ASAP), and the 2020 Best Service Apartment Provider – Regional/Global award from Relocate Magazine.
Synergy is a member of The Ascott Limited (Ascott), a leading international lodging owner-operator based in Singapore. Spanning more than 200 cities in over 30 countries, Ascott’s serviced residence and hotel brands include Ascott The Residence, The Crest Collection, Somerset, Quest, Citadines, lyf, Préférence, Vertu, Harris, Citadines Connect, Fox, Yello, Fox Lite and POP!. Ascott is a wholly-owned subsidiary of CapitaLand Investment (CLI), one of Asia’s largest diversified real estate groups headquartered and listed in Singapore and Malaysia. Today, Ascott boasts over 30 years of industry track record and award-winning brands that enjoy recognition worldwide.