MAY, 2024
Leading hybrid accommodation brands Generator and Freehand Hotels have announced strong results for Q1 2024, with EBITDA up 45% on 2023 and a 13% increase in year-to-date revenues.
Following the brand’s strong financial performance in 2023, their historically best-performing year to date, these results have solidified the company's continued upward trajectory and underline the hybrid accommodation models unique ability to drive industry leading profitability. 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.
Alastair Thomann, CEO of Generator and Freehand Hotels, says: “After an incredibly successful 2023 for our brands, it is great to see strong growth across all areas of the business. We are proud of our recent results, and especially our ability to control costs and effectively countering inflationary pressures. The outlook for the rest of the year remains strong and we forecast another year of double-digit profitability growth”.