The Student Hotel (TSH) is investing €65m to develop a newly acquired site in northern Italy into a new urban campus.
The European hotel investor said it has bought a 30,000sqm site on the northern edge of the centre of Turin, from the Metropolitan City of Turin, for the Turin regeneration project scheduled to open in 2023.
The campus will provide student and hotel accommodation, office and educational facilities for Turin.
TSH said the latest deal is the company’s sixth project in the Italian market, bringing its total development pipeline there to around €400m. TSH expects to invest around €1.0bn in Italy by 2025.
Charlie McGregor, TSH’s CEO and founder, said TSH’s growth in Italy is helped by firm’s partnerships with local municipalities.
“Our blended business model, which brings together an investor, developer and operator, allows us to take a long-term view, adopt new approaches to development as well as offer best-in-class services to all our guests and become a thriving community hub for cities.”