In conversation with Stuart Winstone
What does it mean for your customers and your property partner network?
SW: Throughout the process, we’ ve stayed focused on combining the strengths of both companies to deliver greater value, expertise and innovation to the market.
In conversation with Stuart Winstone
We speak with SilverDoor CEO Stuart Winstone about the recent merger with Synergy Global Housing and what it means for the sector, property operators, and clients.
Firstly, congratulations to you! Can you tell us why you decided to merge with Synergy Global Housing?
SW: As a global agency, we have always had ambitious plans to grow our service offer, our team and our client base worldwide. Alongside that, we have been long-standing admirers of Synergy and the impressive growth that founders Henry Luebbert and Jack Jensky have achieved since they first established the business. Both companies are respected leaders within the sector with shared values and aspirations. Marcus and I have been keen to work with Henry and Jack for several years now and a merger to bring the two companies together has been a long-held ambition.
The merger allows us to pool our investment in new technologies and expand our offering to customers, who will benefit from a broader supply chain. At the same time, we can scale our property partner portfolios, positioning us for growth in new markets.
For clients, the merger means access to a wider network and an enhanced service offering, with Synergy continuing to operate and manage its core properties. As a result, clients will be able to access local assistance in a greater number of key cities. This will allow our agency business, as the supply chains are integrated, to offer an even more extensive range of vetted options across key markets.
For our property partners, the merger will also offer greater operational efficiency and opportunity, as once we complete the integration, they will only have to manage one relationship, rather than two. It is also important to note that in line with our core client-centric service philosophy, our priority is- and always will be- on delivering the right and best-fit options for our clients. That means continuing to offer properties that best meet a client’ s requirements, irrespective of whether that is a Synergy-managed property. The priority is the client, not our inventory.
What are your plans and ambitions for the future?
SW: As a new combined business, our mission is to build the most comprehensive serviced apartment and corporate housing offer globally. We have an ambitious growth target and strategic plan for the next five years and our merger with Synergy marks the first strategic step to achieving that, enabling us to continue to expand our network and presence in key global markets. There is a lot for us and the sector to look forward to!
What does the merger mean in terms of brands and structure?
SW: The combined group will operate with two key brands. The SilverDoor brand will continue for our global agency services, and we are introducing the new Synergy by SilverDoor brand for the global corporate housing management business.
Synergy by SilverDoor will operate its own branded apartments in core markets across the United States, Ireland, and the United Kingdom, with further international expansion planned as part of our broader growth strategy. Our new global headquarters will be based in our offices at London’ s Chiswick Park, while worldwide we employ over 450 people and maintain operations in 16 cities across nine countries, including the United States, Ireland, Spain, United Kingdom, United Arab Emirates, India, China, Singapore and Hong Kong, with plans to expand in the months to come.
The newly combined group will be led by me, as I continue in the role of CEO, alongside Marcus Angell, who will assume the role of Executive Chairman. The Synergy founders, Henry and Jack, will both be retiring from the business at the end of this year and we are extremely grateful for their guidance and support throughout the merger process. Marcus, Angie, the entire SilverDoor Board and I feel extremely fortunate to be merging with a business that has had such visionary leadership and has entrusted us to take it to the next stage.
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