Global Real Estate
Spanish Youth Hostel Group Considers London Real Estate Deals
Room00, a Spanish youth hostel operator backed by King Street Capital Management, intends to acquire properties in central London as it enters the UK market for the first time.
Room00 Next Gen Hospitality, based in Madrid, is to invest between €50 million ($57.5 million) and €80 million to acquire five sites in Bloomsbury, Paddington, St Paul’s, and Victoria, according to a statement released on Tuesday. The purchases would be part of a larger development strategy that includes investments ranging from €350 million to €420 million in Spain, Portugal, Italy, and London by 2026.