DunPort provides growth capital to StayCity ApartHotels
StayCity is a pan-European operator of aparthotels under two brands: “StayCity Aparthotels” and “Wilde Apartments by StayCity”. Founded in 2004, the Company, has grown from a single unit apartment in Dublin to over 2,500 keys across properties in five countries. Elm has provided debt capital to facilitate Staycity’s next stage of growth to 7,000 keys and beyond as it expands across all of Europe’s major cities from its head office base in Dublin. The Staycity brand is now recognised as one of the largest aparthotel operators in Europe.
DunPort is very pleased to have provided term debt capital to support the Company’s next stage of growth in its bid to become the largest aparthotel operator in Europe. DunPort worked closely with the management to structure an appropriately flexible senior debt package to refinance an existing facility, as well as a revolving credit facility to provide the company additional working capital liquidity.