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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