Room Mate Hotels expands its presence with the acquisition of Staying Valencia

Room Mate Hospitality & Leisure, SL (“Room Mate Hotels”), a leading lifestyle hotel brand and property management company based in Madrid, today announced the acquisition of Staying Valencia, a portfolio of boutique hotels and aparthotels in Valencia. This strategic acquisition marks an important milestone in Room Mate Hotels’ expansion strategy, strengthened by the support of TPG Angelo Gordon, a diversified real estate investment and lending platform within TPG, and Westmont Hospitality (“Westmont”), who together acquired Room Mate Hotels in 2022.

Staying Valencia operates a portfolio of 10 boutique properties in Valencia, including the award-winning Helen Berger Hotel, and is renowned for its strong reputation, exceptional customer service and commitment to providing guests with authentic local experiences. This acquisition not only expands Room Mate Hotels’ footprint across Spain, but also strengthens its presence in Valencia, Spain’s third largest city and a thriving destination in the European hospitality market. Room Mate Hotels plans to integrate and rebrand these properties into its family of conveniently located lifestyle hotels.

Since the acquisition of Room Mate Hotels in 2022 by TPG Angelo Gordon and Westmont, Room Mate Hotels has significantly strengthened its financial position and reorganized its portfolio through a program of investment in several hotels. The company is now well positioned to continue its international expansion through new strategic acquisitions, new leases and hotel management agreements.

We believe that Room Mate now operates in a position of financial strength, with no debt and a target of €40 million EBITDA in 2025 for the combined entity. We are pleased to have helped Room Mate re-establish itself as a leading international hotel chain and look forward to continuing to support the company as it pursues attractive opportunities in the European hospitality sector and beyond. Jacopo Burgio, Managing Director, Real Estate Europe at TPG Angelo Gordon

Room Mate is on an exciting growth trajectory, supported by a strong balance sheet, an institutionalized management team and a renovated hotel portfolio. This acquisition reflects our ongoing commitment to support the company’s continued expansion in growing hotel and tourism markets such as Valencia, through the addition of high-quality assets. Westmont Hospitality

The arrival of Staying Valencia to the Room Mate family marks an important milestone in our journey. We are delighted to add Staying Valencia to our portfolio of lifestyle hotels located in the city centre. Valencia’s rich culture and the company’s welcoming philosophy align perfectly with Room Mate’s values. We look forward to working with the new owners, employees and stakeholders. Together, we are committed to setting new benchmarks for hospitality excellence. Kike Sarasola, Founder and President of Room Mate Hotels

Room Mate Hotels’ acquisition of Staying Valencia follows the recent acquisition of The Lime Tree Hotel in Belgravia, London, in late 2023, as well as the recent opening of Palazzo Dei Fiori by Room Mate in Venice. With this transaction, Room Mate Hotels will operate 32 properties in Spain, Italy, the Netherlands, the United Kingdom and Turkey. The company is also preparing to launch its “Room Mate Collection” brand, designed for travelers seeking a refined and distinctive luxury experience.

Clifford Chance (legal), Perez Llorca (tax and structuring), Jones Lang LaSalle (commercial), PwC (finance) and Arcadis (technical) acted as advisors to Room Mate Hotels in the transaction. JJL, led by Javier de Miguel, acted as financial and legal advisor to Staying Valencia.

About Room Mate Hotels

Founded in 2005, Room Mate Hotels is a Spanish lifestyle hotel brand and property management company with 32 hotels and approximately 2,200 keys under management in 5 countries and 14 cities. Headquartered in Madrid, Room Mate Hotels employs over 900 people. Known for its dynamic, people-oriented and eclectic approach, Room Mate Hotels offers unique and personalized experiences inspired by local cultures. Renowned designers such as Patricia Urquiola, Lázaro Rosa Violán, Tomás Alía, Lorenzo Castillo and Pascua Ortega, among others, have contributed to the distinctive character of Room Mate Hotels. For more information, visit www.room-matehotels.com.