US-based asset manager BlackRock has revealed that it intends to open a new hostel in Dublin as part of a plan to develop a pan-European hospitality portfolio.
Taking to The Sunday Independent, BlackRock managing director Thomas Mueller said, "We would like to have a presence all across Europe. We're starting in Spain and then we're going to expand elsewhere. It will include Dublin, it will include Amsterdam, Copenhagen, and places like London and Paris."
"A Safe, Clean, Fun, Community-Based Solution"
Mueller added, "The whole millennial cohort is spending a lot of its net wealth on travelling rather than buying objects.
Get a FREE Digital Subscription!Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
"What we're looking to provide is a safe, clean, fun, community-based solution that is affordable."
© 2019 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.