Regional ambitions
Boutique serviced apartment provider Shama has grown tenfold since it introduced its first building to Hong Kong thanks to aggressive portfolio expansion across the city and the mainland, says a company spokesman.
The brand now plans to become the market leader in Asia's boutique serviced apartment industry, says Shama chief executive and co-founder Elaine Young.
The company recently added two properties to its portfolio in Shanghai: Shama Century Park and Shama Luxe Huashan. There are now plans to have at least 40 properties across the region by 2011.
'The addition of these properties has made Shama the market leader in Shanghai with sights now set firmly on the rest of China,' the spokesman adds.
Young says Shama's success can in part be attributed to its mindset, which really sets it apart from competitors. 'We were the first owner-operator to create the serviced apartment concept in Hong Kong and we are constantly striving to take the product to a higher level.'
