Gold Tree Hospitality – New Entrant to the Serviced Apartment Sector in Europe
Main Photo: The Stay & Co typical apartment in Melbourne
Date: August 2021
Name: Gold Tree Living in partnership with Stay & Co
Locations: London, Dublin, Lisbon, Stuttgart and Basel – plus more planned in Europe
Number of Keys: 420
Sellers: Various
Buyer: London-based Gold Tree Group, an international investment company specialized on fixed income real estate in Switzerland and Germany, and headed up by Gil Ben-Zur, CEO, has begun pursuing deals in the hospitality space through its subsidiary Gold Tree Living, and in partnership with Stay & Co, an operator of Serviced Apartments.
Focusing on 10 major European cities, Gold Tree Living aims to become a significant long term developer and landlord in the sector, starting with 420 units in London, Dublin, Lisbon, Stuttgart and Basel, as part of its global real estate portfolio expansion plan.
These units will be developed into Gold Tree’s future aparthotel lifestyle brand that will launch in 2023. Gold Tree has also executed a complete redesign of its 200 serviced apartments that operate under its STAY&CO brand within London, Lisbon, Sydney and Melbourne. Within the next six years, Gold Tree aims to open over 10,000 aparthotel rooms and operate 3,000 services apartments across Europe.
Since its creation in 2018, Gold Tree has secured funding to support its targets and has invested over €200 million (US$236 million) of real estate developments and expansion activity.
THPT Comment: Ambitious plans for this new entrant to the serviced apartment sector. We wish them well.
First Seen:
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