Generator signs its first third-party management contract in Europe
Generator, the leading lifestyle hybrid accommodation brand, is pleased to announce it has been awarded its first third-party management agreement in Europe, for Schroders Capital’s ONE80° Hostel, centrally-located at Alexanderplatz, Berlin. This deal marks another significant milestone for the company, having won the management agreement for The Paramount Times Square in September 2022.
From 1st January 2023, Generator will operate the hotel with refurbishment plans underway, utilising the brand’s signature hybrid model of part private, part shared accommodation and transforming its 11 private and 121 shared rooms with its iconic locally inspired design. Bringing all of its best-in-class characteristics – its inviting social spaces, world class F&B offerings and community-driven events, to this new Berlin hub – even transforming the current basement into a space for locals and travellers to have fun, relax and hang out.
Michael Cevasco, Investment Manager at Schroders Capital, the hotel owner says, “We are excited to partner with Generator to see the creation of Generator Berlin Alexanderplatz. The brand’s extraordinary business records and its reputation for leading the shared accommodation space align well with our overall goal of creating best-in-class destinations around Europe. We look forward to working with Generator on this project in Berlin, which we consider to be one of the strongest markets in Europe.”
Alastair Thomann, Generator CEO, says, “This is an exciting move for us to take on the first management contract in Europe, it’s a new phase of growth for the Generator brand. We are really excited to be partnering with the real estate hotels team at Schroders Capital on this amazing property in the heart of Berlin.”
This new addition will mark the 17th Generator property across Europe and North America. Generator also operates Freehand Hotels, a collection of four hybrid accommodation lifestyle hotels in New York, Los Angeles, Chicago, and Miami.
The property will be open for booking from 1st January 2023 at staygenerator.com. The refurbishment is expected to be completed in Q2 2023.
Schroders Capital acquired the hostel, which forms part of a complex of three properties totalling 527 rooms, at the end of last year in September 2021.
For more information, visit staygenerator.com
Image courtesy: Hostel Berlin and Generator
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.
Learn more on staygenerator.com
About Schroders Capital
Schroders Capital provides investors with access to a broad range of private asset investment opportunities, portfolio building blocks and customised private asset strategies. Its team focuses on delivering best-in-class, risk-adjusted returns and executing investments through a combination of direct investment capabilities and broader solutions in all private market asset classes, through comingled funds and customised private asset mandates.
The team aims to achieve sustainable returns through a rigorous approach and in alignment with a culture characterised by performance, collaboration and integrity.
With $87.8 billion (£72.3 billion; €84 billion)* assets under management, Schroders Capital offers a diversified range of investment strategies, including real estate, private equity, secondaries, venture capital, infrastructure, securitised products and asset-based finance, private debt, insurance-linked securities and BlueOrchard (Impact Specialists).
*Assets under management as at 30 June 2022 (including non-fee earning dry powder and in-house cross holdings)