PARIS (Reuters) – Goldman Sachs is in talks to buy B&B Hotels from private equity firm PAI Partners, the companies said on Monday, in a deal which an earlier report from the Financial Times said could be worth 1.9 billion euros ($2.1 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.
B&B Hotels had 2018 sales volumes worth 580 million euros, 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.
Source: https://www.pehub.com/2019/05/goldman-sachs-in-talks-to-buy-bb-hotels-from-pai-partners-reuters/
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