15 March 2019 – Eje Prime
The Student Hotel is going to invest €110 million in order to open two new mixed-use student halls/hotels over the next few years in Madrid and Barcelona.
The first, located in a former print house at number 28 Cuesta de San Vicente in Madrid is expected to open in September 2020 following a €60 million purchase and renovation project. Once completed, that property will have approximately 340 rooms, a parking lot, a coworking office space and common areas including a lounge bar overlooking the Royal Palace.
The second, located on Calle Provençals in Barcelona, in the heart of the 22@ district, is scheduled to open in January 2021, following a €50 million investment. It will comprise around 300 bedrooms, a coworking office, common areas as well as a cocktail bar on the rooftop.
TSH is launching a new operating model for these properties, which combines short term lets with accommodation for students. The mixed-use aspect of these building means that between 45% and 50% of them will be used for student residences and the rest for hotel purposes, which will offset the seasonality of the two models.
Besides the two openings described above, TSH is also considering opening other hotels in Valencia, Málaga, Sevilla and País Vasco, in Bilbao and San Sebastián.
Original story: Eje Prime (by Marta Casado Pla)
Translation/Summary: Carmel Drake