Cheval Collection has launched a new urban lifestyle serviced apartment brand, MY Locanda, and plans to grow the brand with targeted openings in dynamic cities across the world.
“In December 2018 we announced our vision for Cheval Collection to expand beyond key cities in the UK and to take on new management contracts both in the domestic and overseas markets,” comments Mohammed Almarzooqi, managing director, Cheval Collection. “The launch of our exciting new brand, MY Locanda, demonstrates that vision coming to life, and we are already talking to many developers and investors about future locations.”
Cheval Collection is working with real estate developers, family offices, HNW individuals and other investors, focusing on the UK, Europe and the Middle East, while considering all opportunities globally.
The launch will take Cheval Collection to three brands, with MY Locanda joining Cheval Maison and Cheval Residences. The brand is upscale to upper upscale with service levels customised to the needs of the modern, discerning traveller, and representing a more affordable price point for guests and investors.
“The serviced apartment market continues to evolve, and we are thrilled to be launching MY Locanda and meeting growing demand from guests for stylish, design-led apartments where they can feel part of the local community,” says Daniel Johansson, director of development & acquisitions, Cheval Collection.
“We have been developing MY Locanda for several years as the perfect partner to our existing set of brands. It is important for us to launch MY Locanda to underscore our commitment to this new and exciting phase in our growth and the evolution of the serviced apartment sector.
“We are in talks with a number of different investors about the growth of MY Locanda, alongside our existing brands with an ambition of multiple properties worldwide.””
The company is looking at new-build projects as well as conversions and refurbishments. The typical property will include 20% studio units, 20% one-bedroom units and 60% studios with sofa beds, making the product suitable for both long and short stays.
The brand will centre around the accommodation, supported by a strong F&B offering and The Lounge, a vibrant community space open to guests and local residents.
