London-based Queensgate Investments finalizes $400 million purchase of Freehand Hotels from a seller consortium including The Yucaipa Companies and Sydell Group, drastically expanding Generator’s millennial-friendly portfolio to 18 properties in top cities across North America and Europe

LEFT: Generator Stockholm

RIGHT: Freehand New York

HONG KONG, CHINA - Media OutReach - 17 October 2019 - Generator,whose design-driven affordable luxury has disrupted the hospitality industryacross Europe since 2011, will now operate all four Freehand Hotels and theirrespective food and beverage outlets after purchasing the brand for $400million this week. The acquisition led by London-based firm QueensgateInvestments, which owns Generator, merges the original upscale hosteltrailblazers and reaffirms Generator as a global pioneer in the hospitalityindustry. With Generator's storied success in Europe and Freehand's expertisein the U.S. market, this new merger marks a momentous milestone in the brand'shistory and future.

Followingthe brand's acquisition transition, Generator will operate a total of 18properties Worldwide, including Freehand's New York, Los Angeles, Chicago, andMiami hotels. The Company's original portfolio, including Generator Miami andthe upcoming Generator Washington, D.C., will not undergo any operational orbranding changes, but with four Freehand properties functioning in parallel,the acquisition will present valuable opportunities to strengthen Generator'spresence in North America and leverage Freehand's experience, expertise, andmarket knowledge. Similarly, while Generator has no plans to make any immediatechanges to Freehand's operations, the company will look to implement successfulpractices that have made Generator an incredibly strong performer in theindustry.

BothGenerator and Freehand have been able to capitalize on the sensibilities of thetravelling millennial by promoting local authenticity, innovative food andbeverage offerings, and social interaction, capturing the essence of thehospitality industry's experience economy.

"One ofGenerator's key principles is to constantly provide the best and mostinnovative experience to the modern traveler, wherever they go. With Freehand'sstrong brand identity and overwhelmingly positive reputation in the U.S., theaddition of their hotels to the Generator portfolio is a natural fit for us.Not only is this acquisition of great strategic importance to our Company, itwill also allow both brands to reach new audiences and serve guests in new andunique ways," said Alastair Thomann, Chief Executive Officer of Generator.

In 2018,London-based Generator made a splash in the U.S. hospitality scene with thelaunch of its inaugural North American property in Florida's bustling MiamiBeach. Since its inception in Europe in 2011, Generator has grown into anaward-winning brand, earning popularity with design-driven properties in majorEuropean hubs such as Amsterdam, Madrid, Paris, Rome, Berlin, and Paris. Withits adrenalizing blend of high design, affordable price points, and magneticsocial environments, the brand quickly established itself as the "cool kid" ofaffordable accommodations in Europe.

In 2012,New York-based Freehand Hotels opened its first property in Miami to similarfanfare from North American travelers for its unprecedented design-led sharedaccommodation, affordability, and inventive cocktail programming at the BrokenShaker. In subsequent years, the brand matured with the openings of three morehotels in Los Angeles, Chicago, and most recently, New York. Reminiscent ofGenerator's legacy in Europe, the brand is known for its exceptional ability tocombine the social culture of a hostel with private rooms and suites,award-winning food and beverage, and a community-driven atmosphere.

Next inGenerator's strategic plan to expand its North American presence is theupcoming Washington, D.C. property, opening in 2020. Situated in the heart ofthe city between Adams Morgan and Dupont Circle, Generator Washington, D.C.will boast the brand's signature elements: ultra-comfortable private rooms andluxury suites, brilliantly designed shared accommodations, trendy F&B outletsand interactive programming, all at affordable price points in one of thehippest neighborhoods in the nation's capital.

For moreinformation on Generator and Freehand Hotels, please visit www.StayGenerator.com and www.FreehandHotels.com. 

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About Generator

Voted byFast Company as one of the top 50 Most Innovative Global Companies, Generator is one of Europe'sfastest-growing hospitality brands, located in the most central locationsacross Europe including Dublin, London, Copenhagen, Hamburg, Berlin, Venice,Barcelona, Paris, Amsterdam, Stockholm, Rome, Madrid, and Miami Beach. Theaward-winning Freehand Hotels, nowoperating under Generator, has properties in New York City, Chicago, LosAngeles, and Miami Beach.

Pioneers ofaffordable luxury and masters of the social experience, all Generator andFreehand properties include a range of room types from shared to privatebedrooms, chill-out areas, bars, cafes and a variety of spaces available forprivate hire - from street facing or basement exhibition spaces to penthousesuites and rooftops. The successful concept begins with the award-winninginterior design; continues with the locally inspired, carefully curated eventsand the extraordinary food and beverage offerings; concluding with the bestnight's sleep in our bespoke beds in shared or private rooms. www.StayGenerator.com, www.FreehandHotels.com