Hybrid accommodation brands Generator and Freehand Hotels, have announced record-breaking financial results for 2023, with EBITDA up 28% on 2022.
Additionally, the brands have surpassed both pre and post-pandemic annual performances on the back of a 15% increase in revenues.
According to Generator and Freehand Hotels, the results were bolstered by a “strong” final quarter, which, as predicted, saw EBITDA 9% up on the same period in 2022.
They stated that the “excellent results underpin the hybrid accommodation model’s continued resurgence, with shared accommodations proving to be more popular than ever”.
Alastair Thomann, CEO of Generator and Freehand Hotels, said: “We have emerged from a turbulent time for the hospitality industry stronger than ever, and our financial results show our operating model’s durability, success, and appeal.
“Our guest mix is continuously evolving, transcending traditional expectations – we now cater not only to Gen Z and Millennial guests, but also to the generally young at heart and families seeking new ways to travel across some of the most exciting cities in Europe and the US.”