One of Europe’s biggest hotel chains is set to change hands after PAI Partners confirmed that it was in talks to sell B&B Hotels to the merchant banking division of Goldman Sachs for an estimated €1.9bn.
The private equity firm acquired the French budget hotel operator three years ago and has expanded its portfolio to 486 hotels with almost 43,000 rooms in 12 countries, including Brazil, Switzerland and Belgium.
B&B Hotels reported revenues of €580m last year.
Click here for the full Times article (£)
