The company’s latest acquisition took place in San Sebastian, advances Spanish newspaper Eje Prime. The company bought a 13.000 sqm terrain to build another hotel, whose construction works should start in 2020.
The 325 rooms, gaming room, coworking room, library, and the several living rooms will be available, during the last quarter of 2021, not only to college students – for periods of six months to a year –, but also to guests looking for short term accommodation. This is the new hybrid concept adopted by the company, which will be put in place on the six new establishments.
This last investment fits the company’s strategy of focusing its investment «in secondary, touristic cities with a large student population», revealed Jules Choukroun, real estate regional director for the company, to the same newspaper. Cities like Malaga and Seville are also on The Student Hotel’s plans.
Last March, the Dutch company had already announced it would start construction works on two hotels of this type. One is located in Madrid and the other in Barcelona.
The hotel located in the Spanish capital will be able to accommodate 340 people and require a 60 million euro investment. This project should be concluded, according to the company’s estimates, in September 2020. The hotel located in Barcelona should open its doors in 2021. This last project will offer 300 rooms and will cost around 50 million euro. Both hotels should also offer common areas, such as coworking areas, living rooms, restaurants, among others.
Despite the company’s intention of using this hybrid business model, its offer directed only towards college students – under the brand TSH Campus – might grow in the future. According to the same newspaper, The Student Hotel is currently negotiating the development of a TSH Campus project in Portugal. This will be the company’s third project in Portugal, where it currently has two projects underway, one in Lisbon and other in Porto.