New finance to fund growth of Dutch-based Student Hotel group

London, Edinburgh and Brighton are being targeted as key locations for the expansion of Student Hotel, an Amsterdam-based provider of student accommodation.

The announcement of the group's growth plans follows a capital injection of €150m (£118m) from asset management company Perella Weinberg Real Estate.

Owned and operated by City Living, which has its roots in Scotland where the MacGregor family started working in student accommodation at Edinburgh University in 1982, Student Hotel now operates properties in Amsterdam, Rotterdam, Liège, and The Hague.

As well as targeting UK cities, the company also hopes to launch hotels with 350 to 700 rooms in Paris, Madrid, Barcelona, Berlin, Frankfurt, and Dublin. It aims to have around 10,000 rooms across Europe by 2020.

The first new hotel to open following the new finance deal will be located in the Trouw/Parool Tower in Amsterdam, former newspaper offices which will be converted into a 574-room hotel with three restaurants and a gym.

Charlie McGregor, founder and chief executive of the Student Hotel, said: "It's great to work with an investment partner that shares our vision to roll-out high quality and community-driven student and hotel accommodation across Europe."

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