TSH receives €300 million from existing shareholders
The Student Hotel (TSH), the Amsterdam-based hybrid hospitality leader, today announces that it has secured €300 million in funding from its existing shareholders Aermont and APG, with the latter providing €175 million of its investment through its LRF venture, managed by LaSalle. This funding will fuel its international expansion plans allowing the company to begin construction of seven new flagship hotels in major EU gateway cities and add almost 3,000 rooms to its existing portfolio, fund the introduction of cutting-edge technology in its hotels and continue to invest.
TSH expects 2022 to be another strong year with potential revenue in excess of €100m, which is 25% above pre-pandemic levels in 2019. In 2022, the group will open three more hotels, expanding its presence in Europe and opening more than 1,000 rooms in Madrid, Barcelona and Toulouse.
For the 2020/2021 academic year, TSH has achieved an occupancy rate of 51% across all locations and room types. With the restart and the easing of restrictions around the world, the group sees a strong recovery in demand. As of September, bookings for long-term stays have already returned to 2019 levels with occupancy close to 100% and waiting lists since TSH transferred more than 20% of its hotel rooms to the student rental market in 2019. For the full year 2022, TSH expects to achieve a mixed occupancy across its portfolio of over 80%.
On the technology front, TSH is implementing new, state-of-the-art systems that allow it to better respond to customer needs. This technology will bring the company closer to its guests, increasing customer satisfaction and relationships. TSH will implement the first space/time booking platform across its hotels. This means that guests will be able to book any space in TSH buildings for a specific defined period of time – from meeting rooms to co-working desks, parking spaces and ping pong tables.