The Central House plans to open 15 hostels in Spain in 5 years

July 3, 2019
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This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The first property of the new company will open in Madrid in the first quarter of 2020. It will have more than 3,000 square meters, 53 rooms and a restaurant area

The Central House is a new player in the hostel market. The company set up with the objective of opening between twelve and fifteen establishments in the next five years. The company expects that the first establishment, located in Madrid, will open its doors during the first quarter of 2020.

The hostel will be located in a building that is under construction and that The Central House will rent for a minimum period of ten years, according to sources from the company.

The first establishment of the firm will have more than 3,000 square meters of surface and a capacity of 300 people. In total, it will host 53 rooms and on the ground floor will also have a restaurant area.

The company does not close doors when it comes to locating its assets. The managing partner Cox Real Assets and investor of The Central House, Juan Luis Gómez de Lorenzo explained that the will of the project is to be present "in all the tourist cities of Spain and Portugal".

For this, the expansion plan of the company plans to open between twelve and fifteen centers, "depending on whether we rent or buy", in the next five years, explains the head of the company. The only indispensable condition is that the assets have between 2,500 square meters and 3,800 square meters.

The project, led by Gómez de Lorenzo and Francisco Cabrero, focuses on finding assets in the center of the most tourist cities and reconverting them to create "high quality" spaces. The design, on the other hand, will be inspired by the industrial buildings of the last century.

Juan Luis Gómez de Lorenzo started his career linked to the real estate sector as a consultant in Aguirre Newman, before the merger with Savills. Subsequently, he has worked as an asset manager at Axa or director of capital markets at Optima Real Estate. Since 2016, he has been a managing partner of Cox Real Assets, a company specializing in the investment and management of real estate assets.

For his part, Francisco Cabrero began his career as the deputy director of architecture and construction at AC Hoteles. In 2003 he founded the Plan Group, a company specialized in the delivery of turnkey projects for hotels and retail; and since 2010 he is responsible for project management at International Hospitality Projects, which offers comprehensive technical services to hotels.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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July 3, 2019

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