Main Photo: The B&B Valdebebas, Spain
Location: France-based, across 11 countries in Europe
No. of Keys: 479 hotels (270 in France) – 42,000 Keys
Seller: Paris-based PAI Partners…At nearly €2bn, private equity firm PAI would make a return of three times its initial investment. PAI bought the French hotelier in 2016 in a deal that valued B&B at €790m.
Buyer: Goldman Sachs, becoming more active as a principle real estate investor in Europe, is nearing a €2bn purchase of France-based economy hotel chain B&B, founded and still headquartered in Brittany.
Although representatives of PAI and Goldman declined to comment, the Financial Times said both firms on Monday confirmed the report in a deal which encompasses 479 budget hotels across Europe, plus in Brazil and Morocco. B&B was founded in France in 1990. Goldman told the FT it plans to accelerate B&B’s international expansion.
Goldman Sachs is doing the deal through its merchant banking division.
B&B Hotels was started in 1990, opened up Germany in 1998, opened 57 Villages Hotel aimed at the family market since 2007
Price per Hotel: €3,966,597 – or €45,238 per key (makes more sense!)
THPT Comment: We’re guessing the hotels are owned, rather than franchised, although there is a franchise model on their website…
First Seen: Business Immo
and the London FT
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