Industry Update
Press Release12 May 2017

Queensgate Investments Completes Generator Hostels Acquisition And Appoints Alastair Thomann, CEO And Andre Guettouche, COO Of Generator Hostels

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Queensgate Investments

Queensgate Investments Fund II, which is managed by Queensgate Investments, a real estate private equity manager has completed the acquisition of Generator Hostels from Patron Capital. The enterprise value of the transaction is circa EUR 450M.

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Queensgate Investments' plan is to own the portfolio for the long term, enhance the customer experience across all assets and to invest no less than EUR 300M into expanding the portfolio with additional freehold assets focused predominantly in the US.

Queensgate Investments has appointed Alastair Thomann CEO and Andre Guettouche COO respectively of Generator Hostels. Mr Thomann was formerly CEO of Penta Hotels, a best in class global lifestyle hotel portfolio with 27 assets across Europe, North America and Asia. Mr Thomann's track record marries superior customer experience with superlative operational results. Mr Guettouche was formerly SVP Penta Hotels. Mr Guettouche has worked with Mr Thomann since 2006 to effect the transformation of Penta Hotels. Prior to Penta Hotels Mr Guettouche held senior positions at IHG.

Queensgate Investment has appointed an interim board until Mr Thomann and Mr Guettouche join.

Generator Hostels owns 14 predominantly freehold assets (12 operational and two under development), totalling 8,639 beds, located in London, Paris, Copenhagen, Amsterdam, Miami, Dublin, Hamburg, Barcelona, Berlin Mitte, Stockholm, Madrid, Venice, Berlin Prenzlauer Berg and Rome. Generator Hostels earns current revenues of over EUR 70M, and targets the fast-growing sector of millennial customers, focusing on the best capital city addresses, design-led interiors, a safe environment and, most of all, attractive shared social spaces.

Related Appointments

Alastair Thomann - Chief Executive Officer

12 May 2017 — Queensgate Investments has appointed Alastair Thomann CEO of Generator Hostels. Mr Thomann was formerly CEO of Penta Hotels, a best in class global lifestyle hotel portfolio with 27 assets across Europe, North America and Asia.
read more

Andre Guettouche - Chief Operating Officer

12 May 2017 — Queensgate Investments has appointed Andre Guettouche COO respectively of Generator Hostels. Mr Guettouche was formerly SVP Penta Hotels. Mr Guettouche has worked with Mr Thomann since 2006 to effect the transformation of Penta Hotels.
read more

About Generator

Voted by Fast Company as one of the top 50 Most Innovative Global Companies, Generator is one of Europe's fastest-growing hospitality brands, located in the most central locations across Europe including Dublin, London, Copenhagen, Hamburg, Berlin, Venice, Barcelona, Paris, Amsterdam, Stockholm, Rome, Madrid, and Miami Beach. The award-winning Freehand Hotels, now operating under Generator, has properties in New York City, Chicago, Los Angeles, and Miami Beach.

Pioneers of affordable luxury and masters of the social experience, all Generator and Freehand properties include a range of room types from shared to private bedrooms, chill-out areas, bars, cafes and a variety of spaces available for private hire - from street facing or basement exhibition spaces to penthouse suites and rooftops. The successful concept begins with the award-winning interior design; continues with the locally inspired, carefully curated events and the extraordinary food and beverage offerings; concluding with the best night's sleep in our bespoke beds in shared or private rooms. www.StayGenerator.com, www.FreehandHotels.com

Contact
Julia Hipkiss
Bell Pottinger
Phone: 07827 896 036
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