Queensgate Investments has sold its European operations of Generator Group, a lifestyle hospitality platform, to private real estate funds managed by Brookfield Asset Management for €776 million ($868 million).
Queensgate acquired Generator in May 2017 for €440 million ($492 million).
Queensgate transformed a regional hostel business with 12 assets and 1,894 rooms in 2016 to an internationally recognized hotel brand with 21 assets and 3,925 rooms in 2025.
Generator’s success is due to the focus on the Gen Z traveler seeking Tier I city center locations, lifestyle food and beverage, and affordable shared accommodation, according to the release. For ownership, Generator’s success allows superior yield for its accommodation and attractive 50 percent plus operating margins.
Brookfield is acquiring the European arm of Generator Group with 15 assets and 2,749 rooms.
