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Generator Hostels gets €60m from Invesco for expansion

13 November 2014
13 Nov 2014 -
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Patron Capital has sold a 23% stake in cheap accommodation provider Generator Hostels to Invesco in exchange for €60m of growth capital.

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.

Previous funding
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.

Company
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.

 

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