PingProperties refinances its ibis Styles Amsterdam Airport hotel with ABN AMRO

28-03-2022

With effect from 1 April this year PingProperties has arranged new finance with ABN AMRO for its ibis Styles Amsterdam Airport hotel at Schiphol-Oost. This refinancing deal provides PingProperties with a partner that is open to a further rollout of its business plan at this site.

The former office building at Piet Guilonardweg 3 was purchased, redeveloped and transformed by PingProperties into a sustainable lifestyle hotel with 143 rooms. The hotel opened its doors in 2016. Since then PingProperties has been independently responsible for the day-to-day management. Last year PingProperties launched the ‘Connect Working’ concept in the hotel, designed to strengthen connections between office and hotel functions. PingProperties itself is also spearheading this concept by moving its main office into the hotel.

For the hotel function, in Q1 of this year PingProperties achieved a doubling of turnover compared to Q1 2021. This represents a considerable recovery this year and a return to 2019 levels by mid-2023. Based on this forecast, PingProperties also expects very soon to be able to revitalize the business plan to add around 126 more guestrooms and a range of new facilities.