Generator Hostel chiefs ousted by new owners

The Times

The chief executive and chief financial officer of Generator Hostels have been ousted by its new private equity owner after completion of the €450 million acquisition this week. Queensgate Investments will announce today that it has appointed Alastair Thomann as chief executive of the hostel chain and André Guettouche as chief operating officer. Both were previously at Pentahotels. Queensgate, which bought Generator from Patron Capital, will also reveal plans to invest €300 million in expanding Generator through the acquisition of freehold properties.