French investor Extendam has signed a deal with operator Black Label Hospitality to open 31-room boutique hotel Maison Elle Amsterdam.
Maison Elle Amsterdam is the second Maison Elle hotel opened, following the launch of Parisian hotel brand Maison Elle in 2022 and the opening of the first hotel in the city's 17th arrondissment.
Located on the edge of Vondelpark, the 4-star hotel is set to undergo renovation in the coming months in preparation for its opening in August.
The building was recently purchased by Extendam and now forms part of the investor’s portfolio of over 300 hotels worth a total of around €3.3 billion.
Why it matters
Amsterdam has a growing demand for hotels and has seen a sharp increase in the number of overnight stays. This demand, coupled with the restrictions that the municipality of Amsterdam has placed on the construction of new hotels as well as limited accommodation options, means that the pressure on hotel land in the capital has increased and there’s potential for strong returns on investment in the hotel industry in the city.
According to Deloitte’s European Hotel Industry Survey, Amsterdam remains the most attractive European city for hotel investment in 2023. In May 2022, Tristan Capital Partners bought the 288-room four-star QO Hotel in Amsterdam.