Goldman Sachs’ private equity arm is reportedly considering a sale of B&B Hotels in a potential deal that could value the European budget hotel chain at about €3.5 bn.
According to a news report by Bloomberg, the owner is being advised by Morgan Stanley on the process.
B&B runs more than 770 budget-friendly hotels mainly across France, Germany, Italy and other European countries, according to its website.
Goldman Sachs bought the business in 2019 from PAI Partners in a deal valuing B&B at €1.9 bn.
It is the second major hotel chain to come up for sale over the past few days. Last week, the FT reported that the owners of the Netherlands-based CitizenM hotel group are working with bankers to explore options for the business, including a potential sale which could be worth over €4 bn.
CitizenM’s owners including its largest shareholder Dutch pension provider APG, Singaporean wealth fund GIC and founder Rattan Chadha are being advised by Morgan Stanley and the real estate investment bank Eastdil Secured, according to the news report.
The operation is part of the boutique hotel chain's plans to expand across the globe, with the firm exploring a number of options to raise cash to fund growth.
