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Hybrid accommodation brand Generator and Freehand Hotels has hailed “record” Q1 performances, with EBITDA up 45% on 2023 and a 13% increase in year-to-date revenues.
Following the brand’s strong financial performance in 2023, their historically best-performing year to date, it said these results have “solidified” the company’s continued upward trajectory and “underline the hybrid accommodation models unique ability to drive industry leading profitability”.
The performance was driven by strong demand from its Gen Z and Millennial market base, particularly during significant sporting and music events, occupancy increased 8% year on year. The results also highlight one of Generator’s main drivers, its F&B division, which is up by 34% on 2023 profit.
Founded in 1995, Generator has 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.
Alastair Thomann, CEO of Generator and Freehand Hotels, said: “After an incredibly successful 2023 for our brands, it is great to see strong growth across all areas of the business. We are proud of our recent results, and especially our ability to control costs and effectively countering inflationary pressures. The outlook for the rest of the year remains strong and we forecast another year of double-digit profitability growth”.
