EIGHTClouds announces $10mln Investment in luxury hostel chain Next’House
Summary
This new hostel aims to attract a global community of young professionals, digital nomads, and remote workers looking for an inspiring space to work, connect, and unwind.NextHouse has developed a brand that is perfectly positioned to meet the evolving needs of todays travelers, especially in a dynamic market like the GCC, said Mark Aitchison, CEO of EIGHTClouds. Our investment reflects our belief in the immense potential of the luxury hostel market in the region, where we see a growing demand for more affordable yet stylish accommodations that foster community and creativity. The company is also exploring partnerships with local brands that will introduce guests to hidden gems of Dubai.The GCC region, with its central global location and growing appeal as a destination for remote work, is primed for the introduction of upscale hostels. EIGHTClouds investment underscores a shared belief in the potential for this new segment of hospitality to thrive in the region.As Dubai continues to establish itself as a global leader in tourism and innovation, NextHouse is poised to play a pivotal role in shaping a new trend in the marketone that embraces the spirit of community and adventure that has made hostels popular across the globe.EIGHTClouds is a boutique alternative investment firm specialising in Private Equity, Credit, and Real Estate throughout the Middle East and the US. With an investment focus in alternatives, they provide eligible investors with unmatched access across three core institutional asset classes.NextHouse is a luxury hostel brand designed for the modern traveler.