Goldman Sachs, the private equity arm of Goldman Sachs, the leading US bank that has put its budget hotel chain, which operates more than 770 hotels in Europe, up for sale for 3.5 billion euros, is evaluating the potential sale of B&B Hotel Group and is likely to value the hotel chain at around 3.5 billion euros ($3.78 billion).
Consultants from Goldman Sachs and Morgan Stanley are gauging the interest of hospitality groups and private equity bidders for the budget hotel chain in Europe.
B&B Hotels, which opened its first hotel in 1990 in Brest in the Brittany region of France and has since expanded to 14 European countries, completed a €1.25bn refinancing earlier this month and now operates more than 770 hotels, mainly in France and Germany, but also in Italy and other European countries.
B&B Hotels, which has acquired more than 170 new hotels since 2022, plans to continue growing this year.
The sale process is in the preliminary stage and it is learnt that Goldman Sachs is likely to retain ownership if the bids do not meet expectations.
