Generator and Freehand Hotels announce record-breaking first half numbers
ONDON, UNITED KINGDOM – Leading hybrid accommodation brand, Generator, and its standout collection of design-forward lifestyle hotels, Freehand Hotels, have reported a record EBITDA for the first half of 2024 of $42.2 million, an 18% increase versus the same time last year. Results were driven by strong revenue growth of 10% and tight cost management, brushing aside any inflationary challenges.
Year-end outlook continues to be extremely strong with the company targeting a full year 2024 EBITDA of $95.8m, representing a 22% increase from 2023.
“At Generator, we are extremely proud of our current performance,” comments Alastair Thomann, CEO of Generator and Freehand Hotels, on the success. “We have had a record-breaking first half of the year, our financial results show our operating model’s unique ability to absorb inflationary pressures and we benefit heavily from an extremely resilient and loyal Gen Z and Millennial-heavy guest mix. We continue to have bullish outlook for the rest of the year.”
Generator Miami
Founded in 1995, Generator is the leading boutique and lifestyle accommodation brand with a robust and growing portfolio across Dublin, London, Copenhagen, Hamburg, Berlin, Venice, Barcelona, Paris, Amsterdam, Stockholm, Rome, Madrid, Miami Beach, Washington D.C. and now New York. 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 rooftops. In March 2017, Queensgate Investments acquired Generator, cementing its reputation as a leader in hospitality. Generator has recently been awarded its first third-party management agreements for The Paramount Hotel in New York and Berlin Alexanderplatz and continues on an impressive growth trajectory.
Freehand is a standout collection of beloved hotels operated by the trailblazing hospitality brand Generator that combine innovative design, award-winning food and beverage, and community spirit. Each Freehand location – across the US’s most vibrant cities New York, Los Angeles, Chicago and Miami – takes its cues from its surrounding neighborhood, with spaces that are a microcosm of the best each city has to offer ensuring every experience at each Freehand property is completely one-of-a-kind. Acquired by London-based Queensgate Investments in 2019, Freehand and its award-winning renowned food and beverage concept, Broken Shaker, joins the trailblazing the globally revered, boutique Generator properties in offering affordable, design-centric accommodations – that include sophisticated yet comfortable private and shared rooms – alongside thoughtful communal spaces, and a lively, youth-driven social culture.
The article Generator and Freehand Hotels announce record-breaking first half numbers first appeared in TravelDailyNews International.