Credit: FleishmanHillard Hong Kong
SINGAPORE (EDGEPROP) - Co-living player Dash Living has signed an agreement to take over the management of Travelodge Central, located on Hong Kong’s Hollywood Road.
The property, which will be rebranded as Dash Living on Hollywood, will add 148 rooms to its portfolio, boosting the company’s inventory by over 10%. The transition is expected to be completed in the second half of 2022.
Aaron Lee, the founder of Dash Living, says the agreement is a testament to the appeal of co-living spaces to both real estate owners and end-users.
“We are glad to work with institutional real estate investment managers on this exciting flagship on the island, as well as many others in the region, to provide quality co-living experiences with our extensive perks to our guests,” he says in a Jan 21 statement.
According to Dash Living, booking values have grown 200% y-o-y in 2021 for its portfolio of 1,300 units comprising serviced apartments, co-living homes and hotel rooms.
Lee highlights the flexibility provided by Dash Living, with customers offered a minimum stay of one month, in comparison to traditional rental periods of one year.
“Our co-living concept gives people the choice to live, mingle, connect, and engage with like-minded people in the common spaces that are shared by the tenants. But our tenants can also go back and enjoy their own private room with its own facilities and services,” he remarks.