The new Your Space Cambridge Apartments directors
Your Space Cambridge Apartments merger
Cambridge’s two leading serviced apartment providers – Your Space Apartments and Cambridge Apartments – have merged. Newly formed Your Space Cambridge Apartments now boasts a 75% market share in the historic university city, and over 17 years’ collective industry experience.
Neil Robinson and Stephen Chard (founding directors of Cambridge Apartments), were first in bringing the concept of serviced apartments to the city over a decade ago. Your Space Apartments was created in 2002 by the new company’s fellow directors Suzanne Emerson, Steve West and Paul Perkins. In that time, both companies have put Cambridge well and truly on the map in terms of high quality serviced accommodation provision, having established long-lasting relationships with corporate and leisure guests alike.
The £2million 50/50 merger means Your Space Cambridge Apartments now offers visitors to Cambridge the best quality, best value and widest range of serviced apartments and townhouses available, with 80 properties in locations across the entire city. These include multiple studio and 1-4 bedrooms apartments and townhouses, in eight central locations.
A market on the up
And interest continues to grow. The recent increase in more affordable tourism, coupled with more and more overseas companies opting to establish a base in the ‘silicon fen’ has seen the recognition of serviced apartments as a cost-effective alternative to hotel accommodation continue to gain ground in Cambridge.
While accommodation providers in other cities battle to stave off the effects fo the downturn, SACO (the worldwide serviced apartment network) reports conversely an increase in business of over 300% here in Cambridge. Naomi Milne of SACO confirms: "This is mainly due to a number of project teams requiring serviced apartment accommodation in the city. Companies are starting to realise the cost saving benefits of serviced apartments, compared to hotels, and studies have shown that productivity of a team is improved when they have spacious, comfortable accommodation to go back to in the evenings and over the weekends.”
Suzanne says: “This move has enabled us to bring together our common values. We also wanted to be able to provide our clients with the very highest level of offering that we could, at the very best value. In fact, thanks to the streamlining of our two operations, we’ve already been able to bring down our prices and pass savings on to the customer.”
“For many years we competed against each other, and there were various approaches from both companies to buy the other out", adds Stephen. “But all of this then led to open discussion, a good working relationship and, in time, the idea that we should possibly be thinking about combining forces, rather than doing battle.”
Paul continues: “We have been in negotiations for many months, making sure that we get this collaboration right. It is all about growth, development, choice and opportunity, not just for us at Your Space Cambridge Apartments, but for all of our guests too. We’re both home-grown companies, we know our city and we know our market. The time is now entirely right for us to pool our expertise and come together to deliver an exceptional level and breadth of service.”
The next few months will see Your Space Cambridge Apartments further consolidate their existing resources, with the launch of a new look, new website and greater expansion all on the agenda.