Oakwood, a wholly owned subsidiary of Mapletree Investments, announced that it will direct its focus to singularly pursue the development and growth of its hospitality portfolio.
Over the last few years, Oakwood has embarked on a plan to develop and grow its own portfolio of branded properties. The company now has more than 80 Oakwood properties globally. In March 2020, Oakwood entered into a strategic partnership with Dwellworks to operate a brand-agnostic solutions service for sourcing accommodation options for guests around the world. Through the agreement, Dwellworks has an exclusive license to Oakwood’s epic platform, an end-to-end accommodations management solution. This partnership aligns with the strategic direction of both organizations, allowing Oakwood to focus on the development and growth of its hospitality portfolio, and Dwellworks to strategically expand its capabilities in the corporate housing sector. Oakwood will serve as a supplier to Dwellworks, benefiting from its expanded global presence.
This new phase will allow the Oakwood brand to focus on enhancing its services on-property, and to transform into a true hospitality management company. With a commitment to double its portfolio of managed properties by 2025, the development pipeline holds a number of projects which include:
- 20 properties that are slated to open in the next two years in Asia Pacific;
- a new multifamily portfolio in the Seattle market;
- several active proposals across key cities in the United States including Philadelphia, Raleigh, Atlanta, and Austin; and
- the first two properties opening in Dubai in 2021.
Oakwood offers six products under the Oakwood brand: Oakwood Premier, Oakwood Apartments, Oakwood Residence, Oakwood Suites, Oakwood Studios, and Oakwood WaterWalk.
Photo: Courtesy of Oakwood