Never seen in hotel economy! Goldman Sachs Investment Bank pays only about two billion euros to control Brest group B & B Hotels.
Nearly two billion euros: this is the price Goldman Sachs paid to get hands on hotels in the Brest chain B & B, the number 3 PAI Partners funded by the French property. In 2015, the famous American bank placed 800 million euros on the table, before seeing the French team of PAI Partners win the stake. The US firm has clearly taught the lesson, because it does not hesitate to spend this time a record amount of 1.9 billion euros to control the French nugget.
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How to explain such a success? Riding the concept of "eco-chic" hotels launched by emblematic boss Georges Sampeur, the chain has performed a magnificent moult in space for several years. In addition to a loyal client of business, holding its majority business in France (275 hotels) and a strong segment of its market segment, the group has started with an international development policy. Now managed by Fabrice Collet, the chain of hotels has made many acquisitions in Spain, Italy and Germany, where it has risen to the top of its budget category.
Results B & B Hotels now have 486 establishments for 42,832 rooms. And no more. "We are targeting Brazil. This country is a continent, we are going there to create a network of several hundred hotels" was indicated by Fabrice Collet last April. Another way to say that the team today is more than "get paid". PAI Partners' investment fund is not mistaken, he has just set his setting three times in the space of three years.