Prem hotels sign deal with Sax Vastgoed to expand in Netherlands

Hotel and property management group Prem is expanding its operations in the Netherlands.

The Dublin-based group has signed a deal with Sax Vastgoed to open a serviced apartments property in the Hourglass building in Amsterdam under the Premier Suites Plus brand. Scheduled to open at the end of 2019, it will include 115 apartments and a rooftop restaurant.

The Hourglass property will be the second Netherlands property for the firm, joining a Rotterdam apart-hotel that is due to open in April next year.

The firm is embarking on a period of expansion, opening new location in Reading in November, and it is looking at further opportunities in Europe. Chief executive Jim Murphy said the company was aiming for 50 hotel and serviced apartment properties in its portfolio by the end of next year, with 18 Premier Suites serviced apartment properties.

“The extended stay sector is growing rapidly,” he said. “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.”

Prem currently has 45 hotels under management, with 13 service apartment locations in Ireland, the UK and Belgium. Among its recent acquisitions are Wicklow's Tulfarris Hotel and Golf Resort, Cahernane House in Kerry and the Osprey Hotel and Spa in Naas.