13. Juni 2012 
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Patron Capital: Generator Hostels unveils Hamburg Hostel in £200m Expansion Programme
Generator Hostels, the pan-European hostel operator serving over 30,000 visitors a month, backed by pan-European private equity group Patron Capital, to announce the launch of its latest hostel, in Hamburg. The venue is the second Generator hostel to open in Germany, joining the existing Berlin hostel, and is the sixth opening in Generator’s growing European hostel platform.
Generator Hamburg is part of a £200 million investment programme by Patron Capital to roll out the hostel concept across Europe together with a significant capital investment programme to revitalize the original flagship location in London. The Group is also currently developing two further sites – Berlin Mitte and Barcelona, which will open in the first quarter 2013. Once these are live, the Generator brand will have over 5,100 beds across six countries and will be the largest freehold hostel chain in Europe; the Group is targeting a portfolio of 12-15 sites and 8,000 to 10,000 beds by 2015.
The Hamburg Generator is one of current projects. Originally a department store known as the Klockmanhaus, it was the first skyscraper to grace the Hamburg skyline in the 1920s. The building subsequently was used as a warehouse, offices and a recording studio during the Beatles’ Hamburg recording phase where they recorded ‘Summertime’. The Generator Hamburg boasts 686 beds with a mix of 2, 4, 6 and 8-bed ensuite rooms, suitable for individual travellers, couples and groups.
Josh Wyatt, Investment Director at Patron Capital, commented:
“Hostels are a new and exciting asset class in the property sector, just as student accommodation has been over the last decade. Being the first institutional capital into the hostel sector, Patron has a longstanding commitment to the sector and continues to invest significant amounts of capital and team resources to ensure that Generator Hostels is the category leader and trend setter through the use of exceptional design, curation of a dynamic and communal atmosphere and a dedication to the highest safety levels. With currently the largest freehold hostel chain in Europe, we look to grow more into capital cities. Today Generator Hostels is an institutional quality product attracting a wide range of travellers from around the world. We are very excited about the latest opening and the opportunities for the Group going forwards. ”
Generator Hamburg is part of a £200 million investment programme by Patron Capital to roll out the hostel concept across Europe together with a significant capital investment programme to revitalize the original flagship location in London. The Group is also currently developing two further sites – Berlin Mitte and Barcelona, which will open in the first quarter 2013. Once these are live, the Generator brand will have over 5,100 beds across six countries and will be the largest freehold hostel chain in Europe; the Group is targeting a portfolio of 12-15 sites and 8,000 to 10,000 beds by 2015.
The Hamburg Generator is one of current projects. Originally a department store known as the Klockmanhaus, it was the first skyscraper to grace the Hamburg skyline in the 1920s. The building subsequently was used as a warehouse, offices and a recording studio during the Beatles’ Hamburg recording phase where they recorded ‘Summertime’. The Generator Hamburg boasts 686 beds with a mix of 2, 4, 6 and 8-bed ensuite rooms, suitable for individual travellers, couples and groups.
Josh Wyatt, Investment Director at Patron Capital, commented:
“Hostels are a new and exciting asset class in the property sector, just as student accommodation has been over the last decade. Being the first institutional capital into the hostel sector, Patron has a longstanding commitment to the sector and continues to invest significant amounts of capital and team resources to ensure that Generator Hostels is the category leader and trend setter through the use of exceptional design, curation of a dynamic and communal atmosphere and a dedication to the highest safety levels. With currently the largest freehold hostel chain in Europe, we look to grow more into capital cities. Today Generator Hostels is an institutional quality product attracting a wide range of travellers from around the world. We are very excited about the latest opening and the opportunities for the Group going forwards. ”
