Loading organizations...
Key people at Oakwood Worldwide.
Oakwood Worldwide delivers fully furnished corporate housing and serviced apartments for temporary stays. The company offers a comprehensive solution for business travelers and relocating individuals, providing high-quality, flexible living environments globally. These residences merge hotel services with home comforts, specifically designed to meet diverse short-term and extended accommodation needs.
Howard Ruby founded Oakwood Worldwide in 1960, recognizing a market need for adaptable, furnished housing beyond traditional hotels. Ruby pioneered the serviced apartment concept, establishing a new hospitality segment. His vision addressed growing demand for residential solutions supporting mobile professionals requiring comfortable temporary lodging.
Oakwood Worldwide serves diverse multinational corporations, government agencies, and individuals seeking convenient temporary residences. The company aims to provide a seamless living experience, emphasizing comfort and convenience for guests globally. Its vision is to remain a leader in serviced accommodations, continually adapting offerings to support evolving mobile lifestyles and international assignments.
Key people at Oakwood Worldwide.
Oakwood Worldwide is a leading provider of corporate housing and serviced apartments, offering furnished, move-in-ready accommodations for short- and long-term stays worldwide.[1][2] It serves global organizations, relocating employees, individual travelers, and insurance clients through brands like Oakwood®, ExecuStay®, and Insurance Housing Solutions™, with a presence in all 50 U.S. states and over 85 countries, including access to the largest inventory of such housing options.[2] The company pioneered corporate housing in the U.S. and manages over 80 branded properties internationally, catering to more than 80% of Fortune 500 companies and holding GSA Schedule 48 vendor status.[1][2]
In 2022, Ascott Limited (part of CapitaLand Investment) acquired Oakwood from Mapletree Investments, adding 81 properties and about 15,000 units to Ascott's portfolio, with 8,500 operational units boosting recurring fee income.[1] This integration positions Oakwood within a major global lodging ecosystem, enhancing its scale to support extended stays amid rising demand for flexible housing solutions.[1][6]
Oakwood Worldwide was founded in Los Angeles in 1962 as a pioneer in corporate housing, initially establishing its reputation in the U.S. before expanding into international hospitality with over 80 branded properties.[1] It grew into a global player with corporate headquarters in Los Angeles and regional hubs in London, Phoenix, and Singapore, developing expertise in serviced apartments across more than 15 countries at the time of its 2022 acquisition.[1][2]
Key milestones include building an unparalleled inventory encompassing supply chain capabilities, leased properties, and exclusive branded buildings, while earning over 25 awards in a single year for service and innovation.[2] By 2014, it had accommodated over 185,000 guests worldwide, solidifying its role in relocation services.[2] The 2022 acquisition by Ascott marked a pivotal evolution, fast-tracking growth to integrate with a portfolio exceeding 150,000 units globally.[1]
While primarily a real estate services firm focused on temporary furnished housing, Oakwood intersects the tech-enabled hospitality sector by addressing demand for flexible, on-demand accommodations driven by remote work, corporate mobility, and gig economy trends.[2][3] Its acquisition by Ascott in 2022 aligns with the consolidation of lodging platforms amid post-pandemic shifts toward extended stays and hybrid work models, where digital booking and inventory management tech streamline global relocations.[1]
Market forces like urbanization, business travel recovery, and insurance-driven displacement favor its model, as does integration into CapitaLand's vast ecosystem (S$124B+ assets under management), enabling tech synergies in property management and guest experiences.[1] Oakwood influences the ecosystem by setting standards for corporate housing scalability, supporting workforce mobility in tech hubs worldwide.[2][6]
Oakwood's Ascott integration positions it for accelerated expansion, leveraging a combined portfolio toward 150,000+ units and enhanced digital tools for seamless bookings.[1][6] Trends like AI-driven personalization in hospitality, sustained remote/hybrid work, and climate-resilient urban housing will shape its path, potentially amplifying growth in emerging markets like Asia-Pacific.[1]
Its influence may evolve from niche corporate provider to a cornerstone of global flexible living, powering relocations in a borderless workforce—echoing its 1962 founding as the original mover in corporate housing innovation.[1][2]
