|New generation of hostels.|
Saturday, 16th June 2012
Source : HVS International
Generator Hostels, backed by pan-European private equity group Patron Capital, has announced the launch of its latest hostel, in Hamburg.
The 686-bed Generator Hostel Hamburg marks the operator’s second hostel to open in Germany alongside the existing Generator Hostel Berlin, and is the sixth Generator hostel to open in Europe.
The new hostel in Hamburg is part of a £200 million investment programme by Patron Capital to deliver the concept across Europe as well as revitalising the original flagship location in London.
There are a further two sites currently under development which are due to open in the first quarter of 2013: the Berlin Mitte and Barcelona, which will bring the brand’s portfolio to 5,100 beds across six countries.
Generator plans to accomplish a portfolio of 12-15 sites and 8,000 to 10,000 beds by 2015.
Carl Michel, Executive Chairman of Generator, commented, “We are aiming to be the pre-eminent hostel brand in Europe – and possibly beyond – and for this we are targeting a broad segment of incoming leisure travellers. This calendar year we will achieve a new record for Generator, when we exceed one million bednights.”