Serviced apartment specialists SilverDoor and Synergy Global Housing have announced plans to merge to "accelerate" their growth in the sector.

In a statement announcing the deal, the two companies said that the merger would see them ¡°combine their operations and unite their respective brands¡± under the SilverDoor name.

The joint venture has been backed by SilverDoor¡¯s owner Habicus and Synergy¡¯s parent company The Ascott Limited. Financial terms of the agreement have not been disclosed.

¡°By coming together, the merged business will accelerate growth into new markets and pool investment into technology,¡± said the companies in a statement.?¡°The newly formed joint venture will be led by SilverDoor¡¯s owner Habicus, with Ascott holding a strategic interest.¡±

The combined group will operate under two brands: SilverDoor for global agency services and Synergy by SilverDoor for the global corporate housing management business, including the operation of its own branded apartments in the UK, Ireland and the US, with further international expansion planned.

The enlarged business will be led by SilverDoor¡¯s founder and executive chairman Marcus Angell, also co-owner of Habicus, and current SilverDoor CEO Stuart Winstone from its London headquarters. It will have more than 450 staff and operations in 16 cities across nine countries.?The merger is set to complete in early 2026 following a ¡°brief¡± integration period.

Angell said: ¡°SilverDoor has set an ambitious growth target and business plan for the next five years and today¡¯s announcement marks the first strategic step towards our growth goals.

¡°We¡¯ve been closely following Synergy Global Housing¡¯s own impressive growth trajectory over the past decade, and we¡¯ve long regarded it as a highly customer-centric organisation that is focused on providing high quality service levels to its clients.

¡°The two businesses complement each other perfectly geographically, and by uniting them we¡¯re excited to be enhancing our global proposition for our respective customers.¡±

Kar Ling Wong, chief strategy officer of Ascott, added: ¡°This merger brings together two strong platforms to unlock new avenues for strategic growth, and we are confident in the long-term value it will create for all stakeholders.

¡°Through our joint venture partnership with Habicus, the combined entity will complement and strengthen Ascott¡¯s leadership in the extended stay segment, bringing us closer to a broader base of business travel and corporate housing clients.¡±

Henry Luebbert and Jack Jensky, the founding partners of US-based Synergy, will retire from the business following a ¡°period of careful transition and integration¡±.

¡°Complementing our global agency business, Synergy by SilverDoor will meet demand for serviced accommodation in locations where it either doesn¡¯t exist today, or where existing options don¡¯t meet a particular client need,¡± added Winstone.

¡°The ability to create bespoke solutions for our new combined customer base is something that particularly excites me. I¡¯m so grateful to Synergy co-founders, Henry Luebbert and Jack Jensky, for the incredible business and team that they have built over the last 26 years.¡±

Last month, Synergy launched a proprietary carbon emissions calculation and reduction tool, while SilverDoor unveiled its own carbon calculator for the serviced apartment sector in 2023.