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The Student Hotel has purchased a second property in Italy in order to continue its rapid European expansion plans.
Following the purchase of the property in Italy, the Dutch group – who pioneered a hybrid model of high-quality hospitality – now boasts a portfolio of 12 properties.
The Student Hotel set a target to open 40 properties across Europe by 2020 – using €365 million of equity committed by APG Asset Management and Perella Weinberg Partners – and are still eager to find opportunities across the continent.
The aim for the group is to seek and develop dormant and unloved buildings in order to bring positive economic and social benefits to their neighbourhoods.
In order to meet the expansion target, similar acquisitions are expected to be made in France, Portugal, Spain, Germany, Italy and the UK.
The recent property, which was acquired in Bologna, will be added to the 11-strong portfolio of properties and is scheduled to open in summer 2018.
In addition to the current 3,000 rooms already situated in Rotterdam, Amsterdam, Groningen, Paris, Barcelona and The Hague, The Student Hotel will open in Florence, Maastricht and Eindhoven shortly.
Charlie MacGregor, the company’s founder and CEO, expressed his delight at being able to announce the second Italian project in one of the world’s oldest university cities.
The hotel chain hopes that they can support the Bologna community in its ambition to be world-class when it comes to innovation and talent thanks to their fast-growing international network.
The Student Hotel Bologna will mirror the successful concept which has already been established in the Netherlands.
Plans are in place for contemporary architecture to frame the hotel, located in the ex-telecom office building in Quartiere Naville, which will also include an incubator for start-ups, a games room, gym and bicycle fleet.
If you’re thinking of travelling abroad this year, be sure to organise your European travel insurance in advance
Date Created: 06/07/2016