The hybrid concept brand has announced a financial partnership to accelerate its expansion plans in Europe.
CityHub has announced partnerships with Dutch banks NIBC and ABN AMRO to support the development plan of the brand, which now has 2 hotels in Amsterdam and Rotterdam, and has confirmed the opening of the third hotel in Copenhagen for October 2020.
Confident in the relevance of his concept, Sem Schuurkes, co-founder of CityHub, anticipates: “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.”
After the initial support from ABN AMRO, this transaction marks NIBC's first investment in CityHub. The loans were financed by the Dutch government, 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.”
The originality of the CityHub concept lies in its hybrid positioning between hotel and hostel. The rooms are compact cabins (Hubs) with limited space, but offering the advantage of greater privacy than traditional youth hostels, and the possibility of customising the interior: lighting ambiances, choice of music, etc. These modules make it possible to reuse old buildings, mainly in emerging districts, which are particularly sought after by young travellers.
Digital technology supports the customer experience, without disconnecting them from the city: free Wi-Fi, an application that allows rooms to be personalised and acts as an internal social network. Connected wristbands can be used as a key or as a means of payment for the self-service bar.
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