CGI of The Student Hotel Lisbon Carcavelos
Amsterdam-headquartered hospitality group The Student Hotel has received €300 million in funding from Aermont and APG, paving the way for it to expand rapidly.
The hybrid hospitality pioneer now has more financial muscle to help grow its international footprint.
Investing in new hotel projects
The Student Hotel (TSH) has revealed that current shareholders Aermont and APG are investing €300 million into the business, enabling it to start construction of seven hotels in key EU gateway cities, roll out cutting-edge technology and pursue potential new investments. The fast-growing company currently operates in 15 locations across Europe.
Amid the pandemic, TSH has managed to open three properties in Bologna, Delft and Vienna over the last 18 months. It’s aiming to launch another trio – Madrid, Barcelona and Toulouse – in 2022, and also predicts that next year’s revenues could surpass €100 million, up by 25% on 2019 levels.
“We performed better than many traditional hospitality companies during the Covid pandemic,” said Charlie MacGregor, CEO and founder of The Student Hotel. “Our student, co-working and co-living customers have been very loyal and helped ensure that we were EBITDA [earnings before interest, taxes, depreciation and amortisation] positive at our hotels.
“Thanks to our hybrid operating model, we were able to quickly increase our room allocation towards students at a moment when leisure and corporate travel disappeared. Despite all the restrictions on travel, the lockdowns and education disruptions for students, we achieved strong occupancy over the past 18 months even in new markets where we had just opened. This has allowed us to come through the Covid crisis stronger.”
Strong occupancy rates
In 2022, TSH is forecasting a blended occupancy rate across its portfolio of more than 80%. The company specialises in providing mixed-use spaces for guests to stay, learn, work and play, whether for one night or a whole year.
“The unprecedented test brought by the pandemic proved the resilience and the lower volatile nature of The Student Hotel hybrid business model thanks to its diversified sources of revenues,” reflected Vincent Rouget, partner at Aermont. “With its unrivalled owned portfolio of prime properties across Europe and its unique community-based hospitality experience across generations, TSH emerges from the pandemic well-capitalised and superbly positioned to consolidate its leadership position towards the millennial and Gen Z audience.”
Founded by MacGregor in 2012, TSH is headquartered in Amsterdam and employs 450 members of staff.
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