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 industry
across Europe since 2011, will now operate all four Freehand Hotels and their
respective food and beverage outlets after purchasing the brand for $400
million this week. The acquisition led by London-based firm Queensgate
Investments, which owns Generator, merges the original upscale hostel
trailblazers and reaffirms Generator as a global pioneer in the hospitality
industry. With Generator's storied success in Europe and Freehand's expertise
in the U.S. market, this new merger marks a momentous milestone in the brand's
history and future.
the brand's acquisition transition, Generator will operate a total of 18
properties Worldwide, including Freehand's New York, Los Angeles, Chicago, and
Miami hotels. The Company's original portfolio, including Generator Miami and
the upcoming Generator Washington, D.C., will not undergo any operational or
branding changes, but with four Freehand properties functioning in parallel,
the acquisition will present valuable opportunities to strengthen Generator's
presence in North America and leverage Freehand's experience, expertise, and
market knowledge. Similarly, while Generator has no plans to make any immediate
changes to Freehand's operations, the company will look to implement successful
practices that have made Generator an incredibly strong performer in the
Generator and Freehand have been able to capitalize on the sensibilities of the
travelling millennial by promoting local authenticity, innovative food and
beverage offerings, and social interaction, capturing the essence of the
hospitality industry's experience economy.
Generator's key principles is to constantly provide the best and most
innovative experience to the modern traveler, wherever they go. With Freehand's
strong brand identity and overwhelmingly positive reputation in the U.S., the
addition 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, it
will also allow both brands to reach new audiences and serve guests in new and
unique ways," said Alastair Thomann, Chief Executive Officer of Generator.
London-based Generator made a splash in the U.S. hospitality scene with the
launch of its inaugural North American property in Florida's bustling Miami
Beach. Since its inception in Europe in 2011, Generator has grown into an
award-winning brand, earning popularity with design-driven properties in major
European hubs such as Amsterdam, Madrid, Paris, Rome, Berlin, and Paris. With
its adrenalizing blend of high design, affordable price points, and magnetic
social environments, the brand quickly established itself as the "cool kid" of
affordable accommodations in Europe.
New York-based Freehand Hotels opened its first property in Miami to similar
fanfare from North American travelers for its unprecedented design-led shared
accommodation, affordability, and inventive cocktail programming at the Broken
Shaker. In subsequent years, the brand matured with the openings of three more
hotels in Los Angeles, Chicago, and most recently, New York. Reminiscent of
Generator's legacy in Europe, the brand is known for its exceptional ability to
combine the social culture of a hostel with private rooms and suites,
award-winning food and beverage, and a community-driven atmosphere.
Generator's strategic plan to expand its North American presence is the
upcoming Washington, D.C. property, opening in 2020. Situated in the heart of
the city between Adams Morgan and Dupont Circle, Generator Washington, D.C.
will boast the brand's signature elements: ultra-comfortable private rooms and
luxury suites, brilliantly designed shared accommodations, trendy F&B outlets
and interactive programming, all at affordable price points in one of the
hippest neighborhoods in the nation's capital.
information on Generator and Freehand Hotels, please visit www.StayGenerator.com and www.FreehandHotels.com.
images, please visit https://bit.ly/2MMiaDL
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.
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