CoDE Pod Hostels and Patron Capital have sold Jacobs Inn Hostel in Dublin to a fund managed by BlackRock Real Assets. Since acquiring the centrally located 412-bed hostel back in October 2017, CoDE and Patron have upgraded the property into state-of-the-art accommodation.
Andrew Landsburgh, founder and CEO of CoDE, said: “Combining our luxury pod concept with Patron’s extensive experience in creating design-led F&B and common areas allowed the partnership to build a highly appealing product focused on the premium segment of youth travel.”
Completing the sale of Jacob’s Inn to BlackRock Real Assets this week, CoDE are now looking at investing in sites further afield.
Andrew continued: “Having successfully delivered and exited the first pod-style hostel in Dublin, we are now focused on taking this concept to a range of locations in both Europe and the US. We are looking to buy or work with existing hostels that would suit our concept and turn them into a CoDE property.”
“At CoDE, we are passionate about providing expertly designed, safe and comfortable accommodation to budget-conscious travellers. Our pod beds give guests the perfect combination of a quality night’s sleep and their own privacy at an affordable price.
“As the industry shifts, we are also looking to expand into co-living. We think our pod concept goes hand in hand with co-living where young people are looking for an affordable but high quality sleeping arrangement in expensive cities so it’s an exciting time for our brand.”
CoDE were the first to bring the pod concept – which originated in Asia – to the UK and Ireland. While developing the Dublin property, CoDE also opened their second Edinburgh location in August 2019 – The CoURT. Their original hostel – The LoFT – is located off Rose Street in Edinburgh’s New Town.