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Generator Hostel has been sold for €450 million

For sale since December 2016 by its owners, the investment funds Patron Capital and Invesco (for 23%), the Generator Group, with its 14 hostels and 8,700 beds, was bought by Queensgate Investments.

Queensgate Investment, a joint-venture between the Kow Family, LJ Partnership and the Peterson Group, just bought the Generator Hostels chain from the investment fund Patron Capital and the German fund Invesco for close to 450 million euros, through its Queensgate Investment Fund II LT. The operation should be complete in May and represents a portfolio of 14 hostels in ownership including two in development (totaling 8,639 beds) located in London, Paris, Copenhagen, Amsterdam, Miami, Dublin, Hamburg, Barcelona, Berlin (in the Mitte and Prenzlauer Berg districts), Stockholm, Madrid, Venice and Rome.

Generator was created in the 2000s by the couple Louise and Kingsley Duffy. The concept addresses mostly to younger generations, but also welcomes a clientele who is looking for animation in city centers and finds friendliness and privacy in individual rooms.

The different units are located in urban centers, offering shared spaces and commodities from dormitories to single rooms and suites. It was first introduced in London, then in Berlin. It constitutes a new lifestyle hostels concept. The arrival of the investment fund Patron Capital in 2007 allowed it to boost its growth by injecting the necessary equities. This year, the brand will move out of the European continent for the first time to Miami Beach, Florida (it will include 102 rooms).

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