Deals
Queensgate Completes $400 Million Freehand Hotels Acquisition
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British private equity firm Queensgate Investments has spent $400 million to take over Freehand Hotels from billionaire Ron Burkle’s Yucaipa Cos. and the Sydell Group.
Queensgate plans to manage Freehand’s sites in Manhattan, Miami Beach, Los Angeles and Chicago through the Generator hostel business it acquired in 2017, according to a statement Friday. The company has also bought the Broken Shaker bars that operate within the hotels.