Student Hotel lands €300 million for international expansion
The Student Hotel will use a 300 million euros investment from its shareholders to expand internationally. The Amsterdam-based chain plans to add another seven hotels with a total of about 3,000 rooms to its existing fifteen locations, Het Financieele Dagblad reported.
Scottish entrepreneur Charlie MacGregor founded the Student Hotel in 2012. His chain offers a combination of hotel rooms and longer-stay rooms intended for students and young professionals. The Student Hotel employs about 450 people.
"I am very proud of this investment," MacGregor said to FD about the financial boost from shareholders Aermont Capital and APG. He sees it as confirmation that an accommodation chain can work by combining short- and long-stays. "I'm looking forward to the next ten years."
According to the newspaper in addition to expanding abroad, the Student Hotel will use money from the investment to upgrade its IT systems.