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Well over $1 billion of institutional capital, equity, and debt has moved into European hostel platforms over the past 30 months.
Apollo Global Management this month closed an €874 million (about $1 billion) senior facility for a&o Hostels, secured against the Berlin-based chain’s 44 properties and roughly 30,000 beds. The deal will help finance the next €500 million phase of a&o’s expansion, the hostel brand said.
Why it matters: The European hostel is being reclassified from a niche backpacker product run by mom-and-pop businesses to a branded product financed as an institutional asset class.
Catch Up Quick: A Timeline
A&O’s financial backing represents the latest institutional investment in European hostels.
November 2
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