Generator Hostels, the design-led hostel brand, is to be sold by Patron Capital to property investment company
Queensgate Investments for around €450m (£393m). Aimed at millennial customers, the business is made up of 12
freehold properties with a further two under development, comprising a total of 8,639 bedrooms in London,
mainland European cities and Miami. Queensgate Investments intends to own the portfolio for the long term and
invest more than €300m (£262m) in growing the company. Jason Kow, chief executive of Queensgate Investments,
said that Generator provided “high-quality freehold assets, robust revenues, an attractive lifestyle brand, and
material scalability opportunities”.