Goldman Sachs In Talks To Buy B&B Hotels From PAI Partners
Goldman Sachs is in talks to buy B&B Hotels from private equity firm PAI Partners, the companies have revealed, in a deal which a report from The Financial Times said could be worth €1.9 billion.
Goldman Sachs Merchant Banking Division, the bank's investment fund arm, and PAI Partners did not disclose how much the transaction could be worth in their statement.
Sales And Network
B&B Hotels had 2018 sales volumes worth €580 million, and it runs a network of 476 hotels, competing with the likes of Accor.
The global hotels industry has recently shown signs of solid growth, with Marriott issuing a relatively upbeat outlook earlier this month while Accor also expressed confidence over its 2019 outlook in April.