Despite the coronavirus crisis, recently-started company CityHub Holding B.V. has managed to continue its international growth. In October 2020, thanks to a government guarantee fund, the Dutch hotel chain plans to open a hotel in the Danish capital city, Copenhagen.
Currently, CityHub has 2 hotels, 1 in Amsterdam and 1 in Rotterdam. Due to the coronavirus crisis, both locations were as good as empty during the last few months. As a result of the closed borders, mainly English and American tourists stayed away. Still, even in these uncertain times, the company has managed to continue its international expansion. It will soon be opening a hotel in Copenhagen.
Renovating old buildings
CityHub had plans to expand internationally since the beginning. But this proved difficult due to the risk profile for starters. “ABN Amro pointed us towards Netherlands Enterprise Agency’s Dutch Trade and Investment Fund (DTIF). DTIF offers loans, guarantees and export financing. The Fund is now helping us to finance our expansion. This scheme is essential for new entrepreneurs who want to grow internationally as quickly as possible, but who still have few results to show,” says Sem Schuurkes from CityHub.
DTIF is a very effective scheme, according to Schuurkes. “The Netherlands Enterprise Agency employees were helpful and made sure that everything was arranged within 3 months. The Netherlands Enterprise Agency was also enthusiastic about our concept. We lease existing buildings in a city. Then we completely renovate and transform them into a CityHub.”
The hubs are small, fully-automated, luxury rooms designed by TU Delft and produced in the Netherlands. The concept focuses mainly on young tourists who are looking for a luxurious alternative to expensive hotel rooms. Everything is digital. A wristband serves as room key and digital wallet. Guests control light and sound via a mobile app. A host also answers questions 24/7 via the app. There is a shared living room and bathroom, and hotel guests get free internet access within the city.
Would you like to know more?
Are you interested in starting an international business, but you are facing difficulties in getting the financing you need? DTIF helps you achieve your international ambitions. The Netherland Enterprise Agency uses DTIF to finance projects in various markets on behalf of the Ministry of Foreign Affairs. The Fund has 3 parts: Invest, Import and Export. Find out more about DTIF or other subsidies and programmes.