Queensgate Investments’ Fund II acquired Generator Hostels from Patron Capital and Invesco Real Estate for €450m (£393m).

Generator Hostel, Paris

Source: GeneratorWiki/ Wikimedia Commons

The company operates hostels in 14 European cities including London, Paris and Venice.

Fast-forward to 2019, and Queensgate again goes shopping, snapping up US chain Freehand Hotels for around £315m from a consortium including The Yucaipa Companies and Sydell Group.

Generator will manage the Freehand hotels.