Dutch student accommodation operator The Student Hotel (TSH) has expanded its European portfolio with the acquisition of five new sites.
TSH said it bought five properties in Lisbon, Paris, Barcelona, Porto and Florence as part of its plan to expand its European portfolio to 65 properties within five years.
Charlie MacGregor, TSH founder and CEO said: “In five years we aim to have 65 locations secured across Europe, 26,000 rooms and close to one million square meters of shared space.”
TSH currently has 4,400 rooms in 11 locations. At the end of 2018 the company expects to have 10,726 rooms: 4,400 rooms operational and 6,326 secured or under development.
The firm’s opening pipeline includes TSH Dresden in 2018. Bologna, Madrid, Berlin and Delft open in 2019.
Florence Belfiore, Paris, Porto, Rome and Vienna open are expected to open in 2020. It also plans Carcavelos Lisbon, Toulouse, Florence Manifattura Tabacchi and Barcelona openings in 2021.
“We will continue to disrupt the industry and offer future generations a hybrid home away from home. We will always listen to them, to evolve and adapt our offering, which will ensure we grow a hospitality company that always has one foot in the future,” MacGregor said.
Launched over a decade ago with backing from US private equity firm The Carlyle Group, TSH has also previously secured financial backing from Perella Weinberg Real Estate and the Dutch pension fund manager APG.
