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Excem plans to open 15 hostels in Iberia
25 March 2019 | Vanessa Sousa

Excem chose the main Portuguese and Spanish cities to open 15 new hostels within the next three years. The company should invest, through its REIT Sociedad de Inversión Turística (Situr), between 12 and 14 million euro in each tourism project.

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At least two hostels should open soon in Spain. One will be located in Malaga and the other in Seville, writes Eje Prime.

Already planning for this investment, Excem made an investment in the Iberian Peninsula in 2017: it purchased three assets in Spain and two in Portugal (Lisbon and Porto) for 40 million euro.

These projects are part of Excem’s expansion strategy which includes opening 25 hostels throughout Europe, investing a total 250 million euro.