Q International announced today the acquisition of leading serviced apartments provider Skyline Worldwide
Q Apartments International (a member of the Q Apartments Group family of businesses) announced today the acquisition of leading serviced apartments provider Skyline Worldwide, effective immediately. According to Colum Campion, Executive Director of Q Apartments Group and CEO of Q International, “in our efforts to expand our core business model and find better ways to serve the market, we decided to join forces with a like-minded company that shares our values and vision – we are pleased to have found these attributes in Skyline/Q”.
The acquisition by Q International further strengthens both brands’ current position in the global serviced apartments industry. With this new venture, the Q Apartments Group becomes a global powerhouse with a turnover of circa USD 70 million and over three thousand apartments either under management leased or owned, divided across its three main markets: United Kingdom, Denmark and Brazil.
Founded in 1996 in Copenhagen, Q Apartments Group is the largest serviced accommodation provider in Scandinavia. The company experienced significant growth rates over the past 20 years, which is attributed to excellent levels of customer service and a solid balance sheet which allowed constant reinvestments that guaranteed client satisfaction and permitted its international expansion to the attractive markets of UK and Latin American. In 2016, Q Apartments Group reported an EBITDA of USD 10 million, making it one of the most robust serviced apartments’ providers in Europe.
Award-winner Skyline Worldwide is recognised for its incredible achievements in record time since its inception in London back in 2009. The serviced apartments company revolutionised the market with innovation and creativity as core values, offering a personal and enjoyable experience for its customers and clients across its two focus cities: London and Sao Paulo. According to its founder and CEO Thiago Hahn, the business was founded on long-lasting, mutually profitable relationships that further deepened their understanding of the market and the needs of both corporate clients and relocating employees.
Following the acquisition both Q International and Skyline will combine their staff under one roof and will start operations with over 100 employees spread across 3 international offices - London, Copenhagen and Sao Paulo. “Bringing together the creative culture of Skyline with Q Apartments’ corporate and business capabilities turns out to be such a great opportunity for both companies that it was impossible to overlook” said Thiago Hahn, Skyline’s founder and newly appointed COO and partner of Q International. “Both companies have strong abilities and market positioning, but together they not only become a major force in Europe and Latin America, they allow us to become a huge player in the international market. Q international will have the full package to enable development – the right people and clients combined with the best product and service offerings” he adds.
The plan is to integrate the brands under a single operation unit during the course of 2017. Both companies will continue to operate with their current branding strategy until a later announcement, where a fully integrated new suite will be presented to clients and business partners.
Heading the Group from the UK, Q International CEO Colum Campion said: “this acquisition will bring further scale to our team and clients worldwide. We already had an international presence but this deal formalises our commitment to our vision and our people. Skyline will assist the group in expanding our global partner network and it is a great strategic match. The combination of Q Apartments and Skyline creates a new market leader with an improved net asset value and robust balance sheet. Our combined companies will have the talent, systems and operating power needed to deliver results with outstanding products and services across the globe”.
Q International is headquartered in London and has ambitious plans for the future. Besides focusing on growing its portfolio to other cities in the UK and Brazil, the group aims to expand further afield. According to Q Apartments Group founder and Chairman Kim Bottger, the group will invest heavily in real estate and its global partner network and aims to have over five thousand units under their administration by 2020. “We expect to disrupt the market with our innovative offerings and unprecedented strategic developments. There are great things to come” affirms the Chairman.