Generator & Freehand Hotels announce record profits in 2022 Q2
Generator and Freeland Hotels have announced their highest ever quarterly profits, recorded in Q2 of this year.
These global boutique hospitality and lifestyle brands have seen an 11% year-on-year increase in profitability Q2 2022 versus Q2 2019. June 2022 is heralded as the group’s most successful month ever with almost 30% YoY growth in profit in June alone, firmly squashing any pandemic-related concerns surrounding the brands ability to bounce back, as well as that of the hybrid accommodation sector. Classic travel hotspots continue to reign supreme – London, Paris, Amsterdam and Madrid remain among the best performing properties in Europe.
Alastair Thomann, CEO of Generator and Freehand Hotels says, “We are delighted to set new business records amidst the travel industry’s recovery, a recovery that is gaining momentum due to the ongoing ease of restrictions.”
“We have seen a surge of demand for rooms in both our shared and private accommodation. This trend can be seen particularly amongst Gen Z and millennials who were among the first to get back on the road once borders reopened. These young, seasoned travellers currently make up the majority of our guests, favouring our community-driven and design-led offerings with a particular leaning towards the affordable, shared accommodation on offer.
“There is also a new high demand from families who now value us as an alternative to traditional hotel offerings, with a marked increase in 6-bed and 8-bed dormitory bookings. Collectively, we have achieved 10% growth in the overall shared rooms revenue across Europe and 25% up in North America, compared to 2019 Q2.”
F&B sales have also contributed to the results, with most of the bars, restaurants and cafes across the group now running full capacity. Investing in community-focused events and parties continues to be the company’s pivotal approach to positioning its hotels at the forefront culturally and creatively. It is substantiated by record sales from travellers and locals alike.
The record-breaking figures provide a positive forecast for future growth, with Generator and Freehand predicting the surge to continue progressively in the coming months, solidifying their position as industry leaders in the hybrid and lifestyle accommodation market.
Founded in 1995, Generator is the leading boutique and lifestyle accommodation brand with a strong and growing portfolio across Amsterdam, Barcelona, Berlin, Copenhagen, Dublin, Hamburg, London, Madrid, Miami Beach, Paris, Rome, Stockholm, Venice and Washington D.C. Pioneers of affordable lifestyle and masters of the social experience, all Generator properties have redefined their respective markets with design-forward room types from shared to private bedrooms, co-working and casual public areas, exceptional bars, cafes and a variety of private event spaces – from street facing to penthouse suites and roof tops. In March 2017, Queensgate Investments acquired Generator, cementing its reputation as a leader in hospitality.
About Freehand Hotels
Freehand is a collection of hotels that combine innovative design, award-winning food and beverage, and community spirit. Each Freehand location – across New York, Los Angeles, Chicago and Miami – takes its cues from its surrounding neighbourhood, with spaces that are a microcosm of the best each city has to offer. Acquired by London-based Queensgate Investments in 2019, Freehand and its award-winning food and beverage concept, Broken Shaker, join the trailblazing Generator in offering affordable, design-centric accommodations—that include private and shared rooms—alongside thoughtful communal spaces, and a youth-driven social culture.