Europe: Private equity firm Queensgate Investments has sold the European arm of lifestyle hospitality brand Generator to alternative asset manager Brookfield Asset Management for €776 million.
The deal includes 15 assets with 2,749 rooms across European cities.
Queensgate, which acquired Generator in 2017 for €450 million, will remain the owner of its US-based properties. Freehand Hotels, sister brand of Generator and also owned by Queensgate, does not form part of the deal.
The former CEO of Generator and Freehand, Alastair Thomann, left the company in January 2025 and joined edyn as CEO, a lifestyle aparthotel brand also owned by Brookfield.
Jason Kow, CEO of Queensgate Investments, said: “Queensgate is proud to have acquired Generator… to have transformed the brand, earnings and asset base, and to successfully exit the European arm to Brookfield at EUR 776 million. We are proud of Generator’s journey and look forward to watching Generator’s continued success under Brookfield’s ownership.”
Morgan Stanley & Co. International plc. acted as sole financial advisor to Queensgate Investments. Brown Rudnick LLP and EY advised Queensgate.
Kirkland & Ellis, DLA Piper, and KPMG advised Brookfield.
Highlights:
• Brookfield has acquired Generator’s European operations for €776 million.
• 15 assets and 2,749 rooms across Europe are included in the deal.
• Queensgate retains Generator’s US assets and continues to own Freehand Hotels.
• Alastair Thomann joins Brookfield-owned edyn after exiting Generator.
• Multiple global advisory firms facilitated the transaction.