Room Mate may soon expand with management and franchise models
The American fund Angelo Gordon, which bought Room Mate from the Canadian group Westmont, explains that it sees this acquisition as a real opportunity in the hospitality market.
As Jacopo Burgio, Director of Real Estate Products for Europe at the Angelo Gordon Fund, explained, "We didn't get into Room Mate because we liked the urban product, but to take advantage of the opportunity to buy an operating company. Every day we are asked to do different things and we analyse them all."
Room Mate was facing significant financial problems and was on the verge of liquidation, which allowed the American fund to buy the chain for "an attractive price". However, Jacobo Burgio acknowledges the work that has been done to enhance the brand, which he described as "sensational". This is evidenced by its more than 100,000 followers on Instagram.
