The company reached a deal with Banco Santander, Sabadell and HSBC to obtain that amount, which, according to Spanish daily newspaper Eje Prime, should be invested in two new hotels: one located in Madrid, which should have 340 rooms, and the other in Barcelona with 300 rooms. Both projects offer coworking areas.
The Student Hotel is also developing another project in the city of San Sebastian, which should be able to host students within 328 rooms.
In 2021, the company expects to reach an estimated 200 million euro portfolio in Spain, since «Spain is a key market for our strategy of European expansion, due to its growing international student population and its attractiveness as a tourist destination», revealed Lucas Rijckmans, in charge of Corporate Services at The Student Hotel, to the same newspaper.
