Goldman Sachs is considering selling the B&B hotel group for €3.5 billion after a five-year process of developing a brand that has established itself in Europe, according to Bloomberg. Advisers at Goldman Sachs, as well as Morgan Stanley, are looking for potential buyers for the company, which opened its first hotel in France in 1990.
As of early 2024, B&B Hotels has 761 establishments worldwide, with a total of 69,828 rooms. On a European scale, this translates into 754 hotels offering 68,798 rooms. Looking to Iberia the chain counts with 47 hotels in Spain, and 15 in Portugal. It should be recalled that the group has tripled its portfolio in the last decade and has recently announced its entry into the United States.
The chain aims to become a world leader in budget hotels, with an ambitious target of 3,000 hotels worldwide within the next decade.
The company was founded in Brest (France) in 1990 by François Branellec (Galaxy SA). Since then, it has changed owners several times: the British fund Duke Street Capital bought Galaxy in 2003; in 2005 it was bought by the French fund Eurazeo; in 2010 it was taken over by the American Carlyle Group; PAI Partners took control in 2015; and in 2019 it was bought by Goldman Sachs for around 1.9 billion euros.
