We aim to create a global portfolio of SLEEPN hotels in prime metropolitan cities in Spain and internationally. Strong hotel market performance, high property/land values and an abundance of international mobile citizens are requirements for SLEEPN locations.
Dedicated development partners in major cities are actively looking for the best projects and partners. Strategic partnerships for the development and investment in multiple hotels in target cities is SLEEP`N’s preferred expansion option.
As a result of recent economic events and clear changes in the economic cycle, we strongly believe that it is the appropriate and optimum moment to initiate an in depth process to identify and further acquire hotel assets.
Target markets comprise (amongst others), main strategic cities within our first phase of growth and development in Spain: Madrid; Barcelona; Seville; Malaga and San Sebastian.
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A SLEEP`N should be:
• Centrally located in a vibrant area in a metropolitan city
• In or near a city centre and/or central business district
• Easily accessible by public transport
The preferred size of a SLEEPN hotel is between 60 and 150 rooms, which requires ca. 2,000 sqm (22,000 sqft) to 6,000 sqm (65,000 sqft) gross floor area.
Suitable development opportunities include:
• Greenfield sites
• Redevelopments of existing buildings i.e. office buildings etc. amongst others
• Hotel components in mixed used schemes
• Opportunities on top of existing structures
• Conversions of existing hotels
A lease agreement, containing a base rent and a performance related rent component, payable by SLEEPN to the landlord
An operating agreement (management contract), containing a performance related fee structure tailored to the SLEEPN value proposition, to align interests with the owner