Room Mate Hospitality & Leisure Expands with Acquisition of 10 Hotels and Launch of New Collection Brand

Room Mate Hospitality & Leisure, a Madrid-based lifestyle operator, is expanding its reach in Europe with the acquisition and rebranding of 10 hotels, as well as the launch of a new elevated collection brand. The company has acquired the 10-hotel Staying Valencia brand, management company, and leases from Spanish entrepreneurs, further solidifying its presence in the hospitality industry.

With this transaction, Room Mate Hotels will now operate 32 properties across Spain, Italy, the Netherlands, the U.K., and Turkey. Additionally, the company is set to introduce its Room Mate Collection brand, catering to travelers seeking a luxurious and distinctive experience.

The acquisition of the Valencia-based business, which includes boutique hotels and aparthotels such as the award-winning Helen Berger, was made possible through a partnership between TPG Angelo Gordon and Westmont Hospitality. This deal not only expands Room Mate Hotels’ footprint in Spain but also strengthens its position in Valencia, the country’s third-largest city.

Room Mate Hotels, led by Founder and President Kike Sarasola, plans to integrate and rebrand the newly acquired properties into its portfolio in the near future. This move follows the company’s recent acquisition of The Lime Tree Hotel in London and the opening of the Palazzo Dei Fiori in Venice.

Since being acquired by TPG Angelo Gordon and Westmont in 2022, Room Mate Hotels has focused on strengthening its financial position and enhancing its hotel portfolio through strategic investments. The company is now debt-free and aims to achieve a target EBITDA of €40 million by 2025.

Representatives from both TPG Angelo Gordon and Westmont Hospitality expressed their support for Room Mate Hotels’ growth trajectory and commitment to expanding into emerging markets like Valencia. The acquisition of high-quality assets reflects the company’s dedication to providing exceptional experiences for its guests.