Generator Hostel on expansion mode

By Marc Castro

Aug 13, 2013 01:02 PM EDT

The award winning urban design hostels group, Generator, had announced the acquisition of two further locations in both Paris and Rome. These acquisitions are part of the company's current European roll out. 

The new acquisitions, one of which is the company's largest with a 950 bed capacity, is the pinnacle of its current growth path, increasing to ten properties in less than three years. This alone makes Generator the world's fastest growing hostel brand in the world to a total bed capacity of 6,400. The flagship property of Generator is located in Barcelona, which was acquired in March of this year.

In the company's growth path, the expansion is backed by Patron Capital, the pan-European private equity fund. The plan of Generator would be to acquire a total of 15 properties in different locations by 2015. Patron Capital, for its part, a EUR150 million capital infusion was made to the business to provide funding for its growth plans for both Europe and the United States.

According to Generator's Executive Chairman Carl Michel, "We passionately believe that Generator's design-inspired vision is raising the bar for the hostel industry and making style more accessible and affordable for the young traveller. We look forward to taking Generator's unique flavour to Paris and Rome as we continue our rapid international expansion."  

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