The Student Hotel has announced the opening of its second project in Germany next to the iconic Alexanderplatz in the heart of Berlin’s Mitte district as part of plans to build up a €2 bn European portfolio over the next five years.
The project is also in line with the group's strategy to treble the number of locations in Germany and Austria by 2024.
In early 2020, The Student Hotel is scheduled to open its largest hotel, in Vienna, adding another 819 rooms to the portfolio. Including its Dresden site, which officially opened in November 2018, TSH now offers 781 rooms in Germany comprising more than 30,000 m2. The addition of TSH Vienna next year will bring the total to 1,600.
The Student Hotel currently has 10,000 rooms open and under development in 20 cities across Europe, and aims to more than double that number to 25,000 rooms by 2024.
Charlie MacGregor, TSH founder and CEO, said: 'Berlin is one of the largest student cities in Europe and tops the rankings as a destination for international students. Our Berlin site is the newest posterchild of our mixed-use concept of hybrid hospitality, and we chose this trendy Mitte location for its combination of glamour and grunge.'
Located on 40 Alexanderstrasse, TSH Berlin has direct connections to local public transport and comprises a total of approximately 19,500 m2. TSH Berlin offers 475 hotel rooms, including short-stay spaces for both students and young professionals.
MacGregor added: 'We have the ambition to open a TSH in at least six German cities and we are actively looking for sites in Hamburg, Munich, Frankfurt, Leipzig and Cologne. We also want to bring our student spirit to other vibrant cities that have the right mix of universities, (international) students and culture. Germany’s university cities are competitive real estate markets and their municipal authorities are looking for developments that mix uses and create lively neighbourhoods.'
Berlin is the third European capital outside its Dutch home market where TSH has now opened a location and is soon to be followed by the Spanish and Italian capitals of Madrid and Rome as well as Vienna. The average occupancy rate of the entire platform of 13 student hotels across Europe, which also comprises the Dutch and French capitals of Amsterdam and Paris, is in excess of 90%.
