Antes
Average value 140€
Depois
Average value 215€
The Space
The studio, located on Sapateiros Street, serves as tourist accommodation. It was the very first project by Staging Factory (2012), designed to enhance the space’s appeal and improve comfort and functionality, thus maximizing occupancy and nightly rates. The initial project saw significant success, with occupancy rates increasing from 60% to 85%, nightly rates from €50 to €80, and conversion rates from 10% to 50%.
After more than 10 years, in 2023, the space showed signs of aging and wear, appearing outdated. To address this, the owner initiated a comprehensive renovation, which included replacing the building’s roof and fully redesigning the space to optimize the attic’s potential. This substantial overhaul in both construction and interior design was essential to unlock the space’s full potential and improve its profitability.
The Challenge
Olivier Apartments once again contacted Staging Factory with a new challenge: to completely redesign their first studio to transform it into a top-tier studio apartment. The goal was to position the studio as a premium accommodation in the tourist rental market.
The project aimed to create an ambiance similar to a boutique hotel suite, positioning the apartment as a private aparthotel. This approach would appeal to more discerning guests with greater purchasing power.
The Job
The project involved designing the layout, defining lighting points, selecting all visible materials and finishes and providing guidance on the choice of equipment. The focus was on style, comfort, functionality and optimizing the available storage space.
In terms of ambiance and decor, Staging Factory chose delicate and stylish materials and a neutral color palette to enhance the natural light and create a contemporary atmosphere with distinction and personality. Color was applied to decorative details and accessories.
The Value
“The impact and difference in terms of demand and interest in the apartment is incredible! I never imagined (especially given that the occupancy rate here is always very high and the product was already good) that we could achieve the profitability results we are seeing. Especially in a 6th-floor apartment without an elevator, which limits the market… betting on the premium market, which is already restricted, and that would be willing to climb six flights of stairs, was initially hard to believe it could have such an impact, but the change in the nightly rate with the work done by the Staging Factory was very quick. We had an average rate between €120 and €180 per night, and now we are seeing rates between €140 and €240 per night. It’s worth investing, and it’s known that the higher the risk, the greater the return.” Olivier Carneiro, Owner of OIivier Apartments
