Twelve of 23 extended stay apartment complexes previously under the Waldorf Apartments brand in Australia and New Zealand have been rebranded as ‘Nesuto’, with the company positioning itself for a three-fold growth over the next five years.
The company’s future development pipeline will also be branded as Nesuto as efforts are intensified to grow the brand’s regional footprint from 1,500 rooms to 5,000 rooms by 2024.
Nesuto’s parent company, Daiwa House Industry Co Ltd, which late last year completed a full acquisition of outstanding shares under two subsidiary organisations, say the rebrand will bring a fresh, new feeling to the brand while referencing its core Japanese heritage.
“Nesuto has been chosen to represent “nest” in Japanese pronunciation, which corresponds with the warm welcome and safe, comfortable environment our guest will enjoy at each of our properties,” said Daiwa Living Waldorf CEO, Mark Ronfeldt.
“We are working with savvy investors who have a vision as to what future infrastructure looks like in their area and understand the importance of having multiple business drivers around their investment.”
Growth has already begun, with a newbuild development at Western Australia’s Curtin University underway as part of a $350 million transformation of the campus and its surrounding precincts. New properties in Brisbane and Melbourne are also in their advanced stages as Heads of Terms agreements have been finalised.