King Street Capital Management has made a strategic equity investment of up to €400 million ($445 million) in Room00 Group, Southern Europe's leading urban lifestyle hospitality platform.
King Street's investment will support Room00's pan-European expansion strategy, allowing the company to continue its accelerated development in key markets such as Spain, Portugal and Italy. The funding will primarily be used to acquire hotel properties in prime microlocations in cities including Madrid; Barcelona; Lisbon; Porto, Portugal; Milan; Rome; and Florence. As such, Room00 will continue to rely on its existing growth model based on leases and hotel management agreements, with the capacity now to acquire properties directly. In Italy, Room00 has selected Kryalos SGR to set up an Italian property investment vehicle.
Room00 intends to grow its portfolio to 200 assets and 15,000 rooms in the next four years across Southern Europe, plus another 20 assets and 1,000 rooms in Lond
