Toga Hospitality, a recognized market leader in the apartment hotel sector in Australia, has announced the launch of a new hotel brand for Europe, Adina Apartment Hotels.
A subsidiary of the Toga Group, one of Australias largest private groups with interests in property development and investment, Toga Hospitality has just opened its luxury apartment hotel in Copenhagen on 1st January, 2006. The Groups first European operation in Budapest has operated successfully for several years under the name Sydney Apartment Hotel and is now being re-branded Adina Apartment Hotel Budapest. The Groups third project : 127 apartments in the exciting Mitte district of Berlin, commences construction in February this year.
A landmark project, Adina Copenhagen is the largest apartment hotel in Copenhagen, with 128 apartments, as well as a restaurant and bar, pool, gymnasium conference facilities and parking.
The Toga Group, which recently established an investment fund to finance future expansion, has earmarked funds of in excess of 500 million to invest in new projects over the next five years. Toga is now actively pursuing new developments throughout key European cities through a combination of land acquisition and development, joint ventures, turnkey contracts and management and lease agreements.
Toga Hospitality has 34 hotels and is the third largest accommodation provider in Australia, with a portfolio that includes Vibe Hotels, Medina Apartment Hotels and Travelodge. Its proven, successful formula for apartment hotels in Australia, Budapest and Copenhagen will continue in all of Togas international operations stylish apartment accommodation that offers hotel service, in central, secure locations, providing a private, flexible and costeffective base for travelers either on business or leisure.
As the first Australian hospitality group to launch into the European market, Toga has committed significant management and financial resources to the European marketplace.
Having had a team on the ground in Europe for 4 years Toga Hospitality has comprehensively researched the market and been able to successfully identify its growth opportunities as well as potential locations and sites.
Expansion plans are well underway with the Toga development team focusing on Scandinavia, Germany, Benelux and the UK, as well as central and eastern Europe building on its successful existing Hungarian operation.
The long term potential of Adina Apartment Hotel product in Europe is very strong, and Toga will continue its successful formula of designing, developing, owning and operating hotels, while investing to secure properties at good value throughout different countries, stated Allan Vidor, Managing Director of Toga Hospitality.
Mr Andrew Hunter, Togas European Director based in London, said The Copenhagen project is a major step by the group and we are actively looking for new sites through a combination of land acquisition and development , joint ventures, turnkey contracts and management and lease agreements Apartment hotels are a relatively under-developed niche in the European market and we will be focusing our high quality product towards both the corporate and leisure travel markets in major commercial centers, currently dominated by hotels with smaller rooms.
Adina Apartments in Copenhagen, and other cities, will feature separate dining and living areas, full kitchens and laundry facilities in each apartment, as well as separate luxury bathrooms and bedrooms. State of the art facilities including broadband, high quality LCD TVs and stereo systems will also be a feature in the hotels.
The launch of this overseas operation for the group coincides with increasing popularity of apartment hotel accommodation in Australia, which has seen the sector post a 40 per cent rise in occupancy levels over the last five years, compared with only 9.5 per cent in hotel room nights over the same period.
Mr Hunter concluded, We will use our proven, successful formula in all of our overseas operations stylish apartment accom