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Hybrid accommodation brands, Generator and Freehand, have reported a record EBITDA of €38.3m (£32.8m) in H1, an 18% increase versus the same time last year.
The group said results were driven by strong revenue growth of 10% and tight cost management, “brushing aside any inflationary challenges”.
Looking ahead it said it expects an “extremely strong” performance with the company targeting a full year 2024 EBITDA of €87m (£74m), representing a 22% increase on 2023.
Founded in 1995, Generator is a 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.
Alastair Thomann, CEO of Generator and Freehand Hotels, commented on the success: “At Generator, we are extremely proud of our current performance. We have had a record-breaking first half of the year, and our financial results show our operating model’s unique ability to absorb inflationary pressures but also to benefit from an extremely resilient and loyal Gen Z and Millennial-heavy guest mix. We continue to have a very bullish outlook for the rest of the year.”
