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PREM's Dutch Expansion

PREM Group is expanding its serviced apartment collection in the Netherlands. The company has signed an agreement with Sax  Vastgoed V.O.F. to open a property in Amsterdam under its premium brand, PREMIER SUITES Plus. It will comprise 115 apartments with a  rooftop restaurant and will be located in “Hourglass”, a landmark mixed use development in Zuidas, the city’s rapidly growing business district, which is scheduled to open in December 2019. The company was chosen as the serviced apartment operator following a tender process.  PREM Group was advised and assisted by CBRE |Hotels on the transaction.
 
The Amsterdam property will be the Dublin-based company’s second location in the Netherlands. An apart-hotel under the PREMIER SUITES brand will open in Rotterdam in April 2017. The new openings are part of the company’s plans to expand its portfolio of hotels and serviced apartments substantially by 2020.  It currently has 45 hotels under management including 13 serviced apartment locations in Ireland, the UK and Belgium under its PREMIER SUITES brand. A further location in Reading, outside London, is opening in November 2016 and the company is actively pursuing serviced apartment opportunities in other major cities across Europe.
 
Commenting on the news that the company is to open in Amsterdam, Jim Murphy, Chief Executive, PREM Group said: “We plan to have 50 hotel and serviced apartment properties within the PREM Group portfolio by the end of 2017 across all our key markets. This will include 18 serviced apartment properties under our PREMIER SUITES brand.
 
“The extended stay sector is growing rapidly,” he added. “It’s already an established concept in the US and Asia and now it is expanding across Europe. Increasing numbers of travellers are opting for a more flexible and spacious alternative to traditional hotel accommodation, knowing that they can do so without compromising on the comfort and facilities they associate with 4 star hotels.
 
 

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