Generator Hostels gets €60m from Invesco for expansion
The fresh capital will be used to develop Generator properties globally.
The business plans to grow its portfolio to 20 properties by 2018 across Europe and the US.
Patron first invested in Generator in August 2008, acquiring management operations from a family-owned business and its existing sites in London and Berlin. Patron has supported the group’s expansion, adding several sites, including those in Hamburg, Berlin, Copenhagen, Dublin, Barcelona and Venice.
In August 2013, Patron invested a further €150m into the hostel chain to support the acquisition of sites in Paris and Rome.
Generator currently operates eight hostels throughout Europe, totalling 5,200 beds. The chain is focused on providing affordable accommodation for young travellers in urban locations. The group has offerings in Berlin, Copenhagen, Dublin, Hamburg, London, Venice and Barcelona.