Brookfield Asset Management has acquired the European operations of Generator Group from UK-based private equity firm Queensgate Investments in a €800m ($902m) transaction, marking a significant expansion of Brookfield’s hospitality footprint across Europe.

The deal includes 15 properties comprising 2,749 keys in major cities such as Amsterdam, Berlin, Copenhagen, Dublin, Hamburg, London, Madrid, Paris, and Rome. The Generator platform, known for its hybrid hostel-hotel format, offers a mix of shared and private rooms with amenities including bars, cafes, and private hire spaces.

Originally launched in 1995, Generator was acquired by Queensgate from Patron Capital for €440m in 2017. The firm expanded the platform further with its acquisition of Freehand Hotels in 2019. Combined, Generator and Freehand reported an EBITDA of €38.3m for the first half of 2024, up 18% year-on-year, driven by 10% revenue growth and improved cost control.

Queensgate will retain ownership of Generator’s US properties in Miami and Washington, DC. International law firm Brown Rudnick advised on the transaction.

“Generator has been a standout success story for Queensgate,” said founder and CEO Jason Kow. “This transaction marks a proud milestone, and we’re grateful to our advisers and teams for their support.”

Brookfield currently manages more than $50bn in European real estate assets and over $1tn globally. The acquisition reflects its continued focus on experiential real estate platforms in prime urban locations.

Source: Hotel Management Network

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