The Netherlands: Hotel/hostel hybrid brand CityHub has announced a financial partnership to speed up its European expansion plans.
The brand has announced partnerships with Dutch banks NIBC and ABN AMRO, with new funds supporting and accelerating the development and expansion plans of the company.
CityHub first launched in Amsterdam five years ago and aimed to bridge the gap between the two types of accommodation to suit a global audience. Their first international expansion is announced in Copenhagen for September of this year.
CityHub co-founder Sem Schuurkes said: “Young leisure travellers are expected to be the first to resume travelling when lockdowns ease. Our financial partnership with ABN AMRO and NIBC recognises CityHub’s position as the go-to option for Gen Y and Gen Z.
“We can’t wait to bring CityHub to the most exciting leisure cities in Europe.”
The brand’s sleek design and modularity, allowing new iterations to repurpose old buildings, primarily in up and coming neighbourhoods. CityHub also offers full contactless hospitality, including bar service, check-in and app-based customer service.
Though ABN AMRO was an initial investor, this marks NIBC’s first investment in CityHub, a key financial bridge as hospitality recovers from lockdown. The loans were supported by the Dutch government, being guaranteed through the Dutch Trade and Investment Fund.
Brigitte van der Maarel, Head of NIBC Mezzanine & Equity Partners, said: “With its game-changing concept, CityHub created a new category that has huge potential for the next generation of travellers. We are proud to be part of the team and excited to support CityHub’s growth across Europe.”
Another Dutch brand expanding during this time is HomeSuiteHome, whose home-based-hotel concept launched this April in Amsterdam.