LONDON, UNITED KINGDOM – Leading hybrid accommodation brand Generator has announced full conversion and launch of its latest property, Generator Berlin Alexanderplatz, located in Berlin’s vibrant city center. Having officially opened its doors at the end of May, the property serves as Generator’s first third-party management deal in Europe, signed with British multinational asset management company Schroders Capital. The opening of Generator Berlin Alexanderplatz precedes the brand’s first third-party management deal stateside, with the Paramount Hotel in New York City slated to re-launch in fall 2024 with Aby Rosen’s RFR.
The new Berlin Generator, which marks the brand’s fourth asset in the German market, underwent a full refurbishment, with the team revitalizing the aesthetics of the entire property including transformation of all 132 guestrooms (695 beds) and bathrooms, as well as the enhancement of the bar, restaurant, and common areas. Alongside existing twin rooms and shared rooms, a variety of new room categories have been introduced, including new family rooms – following an increase in demand from families – and private rooms which can accommodate between four and eight people, ideal for groups traveling ahead of a summer of events such as EURO 2024. Led by renowned Interior Architect Stefanie Jaensch and CEU Architecture and Design, the social spaces have been redesigned to use a darker, industrial palette alongside touches of red, and bespoke artwork commissioned by Kollektiv Orange, allowing the property to capture and reflect its local surroundings.
“The conversion of Generator Berlin Alexanderplatz is an example of our hyper-vigilant business model which is constantly adapting our spaces to welcome new guests and reach new audiences,” said Alastair Thomann, Chief Executive Officer, Generator and Freehand Hotels. “After a record breaking 2023, we’re excited for our projects in the pipeline.”
The brand reported a record-breaking financial performance in 2023, their historically best-performing year to date – these results solidify the company’s continued upward trajectory and underscore the hybrid accommodation models unique ability to drive industry leading profitability. For Q1 2024, Generator announced a 13% year-to-date increase in revenue and EBITDA up by 45% over 2023 data. 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.
“We are proud of our recent results, and especially our ability to control costs and effectively counter inflationary pressures,” said Thomann.“The outlook for the rest of the year remains strong and we forecast another year of double-digit profitability growth.”
The article Generator announces official opening of Berlin Alexanderplatz first appeared in TravelDailyNews International.