Can’t Afford Hoxton or Moxy? Generator’s New CEO Says: We’re Premium Too — But Just £40 Per Bunk

European hostel brand Generator has identified distressed mid-market hotels as the growth vehicle to double its 15-property footprint by 2030. Xavier Mufraggi, named CEO in July, told Skift the targets are Novotel and Holiday Inn-tier properties. “Everything which is in between right now is in trouble,” he said. “If you look at the deals right now, there are a lot of Novotel, Mercure, Holiday Inn, and all of them. They are available.” “There’s not really a problem of finding them. It’s just to find the right price,” he added. Generator was acquired by Brookfield Asset Management in May 2025 for approximately €776 million (about $876 million). The first conversion is already underway with the Novotel London Greenwich. The Acquisition Thesis The appeal of a four-star hotel, Mufraggi said, is structural as he doesn’t need to touch the walls. “I could put four or five beds in, and they have their own b