Brookfield Buys Generator's European Operations for €776 Million
Photo Credit: Exterior of Generator, a hostel in Dublin, Ireland. Brookfield
Skift Take
Brookfield Asset Management has acquired the Generator Hostels' European brand and hotels for €776 million from Queensgate Investments.
The DJIA rose 332 points on Friday while Nasdaq was up 99, the S&P 500 rose 41 points and the 10-year treasury yield was down .01 to 4.44%. Lodging stocks were modestly higher. SHCO was the only mover of note, up 5% on the day.
Evercore ISI Group upgraded Sunstone Hotel Investors to Outperform from In-Line with a $10 price target. Evercore ISI Group downgraded Park Hotels to In-Line from Outperform with a $13 price target.
CBRE forecasts that RevPAR will grow modestly in 2025, driven by the continued outperformance of urban locations benefiting from increased group and business travel, as well as a projected rise in demand for drive-to and regional leisure destinations. CBRE forecasts a 1.3% increase in RevPAR for 2025, with occupancy and ADR rising by 14 basis points and 1.2% year-over-year, respectively. This represents slightly softer growth than had been anticipated in CBRE's February forecast, which projected 2.0% R
