To carry out its expansion plan in different destinations in Spain, By Pillow has the support from different investors and the integral adviser of the firm 3 Capital Real Estate.
In this sense, “3 Capital has advised the new owner of the Bilbao asset as well as By Pillow in the negotiation of the contract for its management under a lease, including the recently completed complete remodeling”, as explained by said real estate firm.
“In 2019, the By Pillow group took over an old tourist accommodation located in front of the new Athlétic stadium in Bilbao. After a comprehensive renovation, it reopened transformed into the By Pillow San Mamés, with a total of 38 rooms completely adapted to the quality and product standards of the chain “, indicates 3 Capital.
The Integral reform has been budgeted in about 25,000 euros per room and “it has served to reposition itself as one of the most competitive establishments in its category,” add sources from the real estate firm.
In this sense, the objective of the By Pillow San Mamés is to capture both holiday and corporate demand. “The rooms are configured in various types, allowing to comfortably accommodate families or groups of up to five people.”
The By Pillow San Mamés joins the eleven establishments of the chain already in operation in Barcelona, Girona, Madrid, Marbella, Salou and Vilanova i la Geltrú.
The Spanish chain By Pillow was created in 2012 and as 3 Capital explains, “it is the first manager specialized in hostels which develops a boutique concept, improving both the product and its commercial and financial management, increasing income and limiting costs thanks to the use of economies of scale that allow its structure and presence in various destinations “.
The intention of By Pillow is also open in other urban and holiday destinations such as Valencia, Malaga, Seville, Granada or San Sebastián, “in addition to expanding positions in key places such as Madrid or Barcelona”.
By Pillow’s accommodation network is made up of “central establishments, with complete services and facilities and modern decoration with great personality,” add the same sources.