EU: Privately owned hostel chain a&o Hostels has revealed plans to take a position €500 million in direction of its European enlargement.
The corporate is focusing on workplace and retail conversions in cities similar to London, Paris, Rome, Madrid, Lisbon, Berlin, Munich, Prague, and Amsterdam. In keeping with a&o‘s CEO Oliver Winter, negotiations are already underway.
Presently, a&o’s CO2 footprint is 3.73 kilograms per evening – reportedly round 80 per cent decrease than different business manufacturers. The corporate goals to turn into certainly one of Europe’s first internet zero hostel chain by 2025, and repurposing buildings will assist this aim.
Conversions can even permit a&o websites to be centrally situated. The group operates 38 properties in 25 cities throughout 9 European international locations, with the latest property a&o Florence an workplace conversion to 470 beds. It is because of open this summer season.
Winter stated: “Whether or not lease or possession, new construct or conversion, our property enlargement covers all kinds of property sorts. We wish to develop, and we’re very versatile by way of measurement and flooring plans, which provides us a head begin and makes it simpler and sooner to implement.”
In 2023, a&o recorded 6.1 million in a single day stays – a rise of 9.9 per cent from 2022. The corporate hosted 2.7 million friends throughout this era, which marked a 22.7 per cent improve from the earlier yr (2.2 million), and a turnover of €217 million – a 26.2 per cent improve from 2022 (€172 million).
