The Student Hotel Seals €34 Million Turnkey Toulouse Acquisition with Icade-Ynov JV

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Amsterdam, September 26, 2019 – Pan-European hotel operator, developer and investor, The Student Hotel (TSH), has acquired a turnkey refurbishment project in the Compans Caffarelli area in the centre of Toulouse, for around €34 million. The counterparty is a joint venture of French listed developer Icade and academic institution Ynov.

TSH’s total investment in the Toulouse project is in excess of €45 million and will allow the extension and the refurbishment of an existing former barracks into 12,000 sqm of student accommodation and hotel with 354 high profile rooms, design common areas and a rooftop with a pool and 360-degree views on the city. The site is close to major higher education hubs, including the Toulouse Business School and the new Ynov digital campus, and is located within walking distance of the city centre.

The construction of the hotel began this month and it is due toopen in the Summer of 2021. The Toulouse acquisition is a cornerstone of The Student Hotel’s strategy of engaging in large urban re-generation projects and it plans to acquire, develop and invest in more than 4,000 rooms in France by 2022. TSH entered the French market in 2015 with a pilot site in Paris La Défense. The Toulouse development will incorporate the full TSH brand experience and will be followed by a similar second hotel of circa 300 rooms that is due to open in the 19th district of Paris in 2022.

Sophie de Becdelièvre, TSH Real Estate Director France, said:“We are convinced of the strong potential of Toulouse for the TSH concept. Due to the quality of its higher education institutions, Toulouse is the second most popular place to study in France after Paris and almost a quarter of all the residents in the city centre are students. The city also benefits from a solid and dynamic economy which will drive strong demand for our hotel and extended-stay rooms. The Student Hotel is fully committed to supporting the city of Toulouse and Icade-Ynov in their plans for the comprehensive regeneration of the Compans Caffarelli square and its surrounding environment.”

The Student Hotel Toulouse is the latest deal in the company’s accelerated €2.0 billion investment strategy that will more than triple the number of TSH hotels in operation across Europe to 38, from the current 12, over the next five years.

TSH Berlin has its official opening ceremony on October 9 and this will be followed shortly afterwards by the opening of its largest hotel, with 819 rooms, in Vienna in the first quarter of 2020. TSH’s pan-European investment programme is addressing these markets’ structural supply/demand deficits in high quality student accommodation.

Denis Montrelay, Investment Director and Member of the Executive Board at TSH, said: “Toulouse is a major new step in our TSH growth strategy in France and we are also investing in ambitious re- development projects in other key markets where we see strong demand for our unique hybrid co-living and co-working hotel formula. Italy, Spain and Portugal are high on the list of new openings, alongside the German- speaking markets, in the near future.”

About The Social Hub

The Social Hub is a diverse community where people come to learn, stay, work, and play – previously known as The Student Hotel.

Designed to create meaningful, fun experiences, The Social Hub is your neighbourhood hub to discover, do better and make an impact; it's your space to call home.

Whether you're a local, traveller, student or professional, The Social Hub connects you with passionate people from all walks of life to meet, share ideas and experiences.

And it all happens under one hub. You'll find hotel rooms, student accommodation, coworking and event spaces, restaurants and bars, a gym, lounges – everything that brings people together.

HYBRID HOSPITALITY LEADERS

From design-savvy travelers to next-gen entrepreneurs, The Social Hub welcomes thousands of guests annually to its expanding portfolio of urban properties across Europe. Purpose-built or housed in historic converted buildings, The Social Hub’s industry-leading concept provides blended and flexible spaces to learn, stay, work and play for a night, a week, a month or a year – true, hybrid hospitality.

Founded in 2012, The Social Hub, formerly known as The Student Hotel, is headquartered in Amsterdam and has more than 800 employees. All The Social Hub properties offer a mixed-use with accommodation, bars, restaurants, gyms, retail shops, meeting and event spaces and high-profile, co-working spaces. With over 11,000 rooms in Europe open and under development, The Social Hub aims to offer unique experiences to its community of international guests and locals.

The Social Hub’s total locations amount to 23, with 13 properties open in; Berlin, The Hague, Delft, Vienna, Groningen, Eindhoven, Maastricht, Rotterdam, Paris, Florence, Bologna and two in Amsterdam, opening 2022 are Madrid, Barcelona and Toulouse and seven more by 2025 including Porto, San Sebastián, Glasgow, Rome, Florence Belfiore, Lisbon and Turin.

ON A RESPONSIBLE AND IMPACTFUL JOURNEY

The Social Hub is on a journey to be as responsible and impactful as possible – both in how we build our properties and how we engage with our communities. Our properties are developed and managed in accordance with BREEAM and GRESB standards and through our event programming we aim to inspire and activate our communities to contribute to a fairer and greener world. The Social Hub will start its journey towards B Corp Certification in 2023.

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