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Generator Hostels sold to another private equity Firm for $480 million

03/14/2017| 10:19:51 AM| 中文

London-based Queensgate Investments bought Generator Hostels from private equity firm Patron Capital for USD 480 million.

London-based Queensgate Investments bought Generator Hostels from private equity firm Patron Capital for USD 480 million (€450 million).

The new owner said it wants to keep the budget operator for the “long term” and intends to invest more than USD 320 million (€300 million) into adding more hostel assets.

Generator Hostels, which has 14 properties spread across Europe, is at the forefront of a new wave of design-led budget accommodations. It has also looked to establish itself as a recognized name in an industry that has traditionally been incredibly fragmented.

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TAGS: Generator Hostels | Patron Capital | Queensgate Investments
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