Student Hotel group raises €300m to boost expansion abroad
The Student Hotel group, which provides upmarket accommodation for students and young professionals, has raised €300m to further expand abroad with seven new locations.
The company, founded in 2012, currently has 15 developments, including in Amsterdam, Groningen, Maastricht and The Hague. It also has complexes in Barcelona and Vienna and several other foreign university cities.
Founder Charlie MacGregor told the Financieele Dagblad that he thinks there is space for 30 to 50 ‘hotels’ but that the company does not have fixed targets. New operations will be opened in Madrid, Barcelona and Toulouse in the coming year.
The chain was hard hit by the coronavirus pandemic and university closures, with an occupancy rate of just 51% in the previous academic year. This year, the occupancy rate is back up to 80%, MacGregor told the paper.
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