The Student Hotel has committed to €150m to expand in Europe, with funding from Perella Weinberg Real Estate.
The Amsterdam-based student accommodation provider is planning to address local and international student requirements for quality lodging all over Europe through its innovative accommodation model.
Presently managing four properties in the Benelux region (Amsterdam, The Hague, Liège and Rotterdam), the expansion will facilitate its transformation into an important European student accommodation brand. As part of its expansion plant, the company plans to invest in London, Paris, Barcelona, Madrid, Frankfurt, Berlin, Dublin, Edinburgh and Brighton.
The idea is to operate lodgings at cities featuring some of the top universities. The Hotel is targeting 350 to 700-room hotel properties, as the influx of international students has more than doubled since 2000, according to a survey conducted by the Organisation for Economic Co-operation and Development (OECD).
Amsterdam’s 24,000m² Trouw/Parool Tower is the first acquisition from the partnership with Perella Weinberg Real Estate.
Formerly housing newspaper offices, the structure will be transformed into a 574-room hotel, which will include various facilities such as offices, classrooms, three restaurants, gym and a club. Close to the Amsterdam city centre, the property is sandwiched between the campuses of the Amsterdam University of Applied Sciences and the University of Amsterdam.
By 2015, The Student Hotel plans to operate 2,200 rooms, increasing to 10,000 in Europe by 2020.
The unique concept and boutique approach of the Student Hotel aims at profitably enhancing occupancy, mixing short-stay hotel facilities with long-stay student accommodation, while delivering first-rate F&B, quality design, a flexible rental system, amenities and events.
Founder and CEO of The Student Hotel, Charlie McGregor, stated: "The growing number of international students deserves better and more accommodation options, no matter where they go in Europe, and it’s great to work with an investment partner that shares our vision to roll-out high quality and community-driven student and hotel accommodation across Europe."