Patron expands hostel and football interests ahead of exit
Sunday 21 August 2011
Patron Capital Partners, the US private equity investor with €1.7bn (£1.5bn) of assets, is rolling out two businesses ahead of an exit.
It is in talks to buy sites for its Generator Hostels business.
It has four sites open – in London, Berlin, Copenhagen and Dublin – another four under construction – in Hamburg, Venice, Barcelona and Berlin – and is in talks to secure further sites in Paris, Madrid, London and Barcelona.
Josh Wyatt, Patron Capital's director of hospitality and leisure, said: "Generator Hostels is a brand that can expand through Europe in Spain and France, but the business will be a global brand in the medium term. Youth hostels is a growth sector – just as boutique hotels were in the 1980s when Ian Schrager was creating the first."
The selling point of Generator Hostels is cheap accommodation with well-designed bars, facilities and social areas. In its central London hostel, near Russell Square, rooms cost from £18 a night.
Patron is also rolling out its Powerleague 5-a-side football venues, with sites planned in Ireland, France and Spain in the medium term and the US in the long term. It has 45 venues in the UK.
Patron, founded by former Lehman Brothers banker Keith Breslauer in 1999, invests in businesses with property assets at their core. It then finds run-down premises or vacant sites which it develops. It has also invested in hotels and Manchester's MEN Arena .
The company has a further €400m of equity to invest in other businesses.
elephant appealThe first 23 lots in our charity auction have now gone. But there are 22 more still up for grabs
Jennifer Lawrence attacks mass media again over body image
scienceScientists find the answer to a question that even puzzled Darwin
A very timely Great Train Robbery and a frantic 24 Hours in A&E among the highlights
scienceThe new development in bio-printing technology could be used in the future to restore lost vision - though years of research still await
Geoffrey Macnab: The Wolf of Wall Street's account of white-collar excess is A Rake’s Progress on steroids
arts + entsThe 'Friends' actor on his new role as campaigner on addiction issues
Sun will 'flip upside down' within weeks, says Nasa
Colin Farrell reveals ‘affair’ with Elizabeth Taylor: 'She was my last romantic relationship'
Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
Devyani Khobragade: India-US row escalates over arrest of diplomat in New York
Peter O'Toole: Tales of the late film icon
- 1 Facebook 'self-censorship': study records when you don't post to find more ways to share
- 2 Sun will 'flip upside down' within weeks, says Nasa
- 3 ‘Why we don't have snow in Saudi Arabia’: Video captures winter fun as Middle East hit with rare blizzard
- 4 Vitamin pills are a waste of money, offer no health benefits and could be harmful - study
- 5 Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
- < Previous
- Next >
iJobs Money & Business
£500 - £550 per day: Cornwallis Elt : Business Analyst Cross Border Complia...
£44999 - £60001 per annum + Benefits: Pro-Recruitment Group: A Top Tier firm i...
£50000 - £75000 per annum + benefits + bonus: Harrington Starr: Implementation...
£50000 - £65000 per annum + benefits + bonus: Harrington Starr: Project Manage...