"The whole building has a completely different feel from the rest of our portfolio, but still feels very much like a Generator," says Generator CEO Alastair Thomann. "It's our interpretation of Generator's city look and feel for a Miami Beach resort."
Launched in 2011 as a high end hostel chain, Generator has 13 properties throughout major European capitals, including Madrid, London, Amsterdam, Paris and Rome. It's known for offering food and beverage by notable and star chefs, amenities like dance clubs and rooftop bars and low rates. The brand is also known to open in hip neighborhoods millennials frequent, like Las Ramblas in Barcelona and Hackescher Mart in Berlin.
Hostels are a $5.5 billion global industry, according to the second edition of Phoscuswright's Global Hostel Marketplace 2016-2020, a company that puts together research and analysis in the global hostel market, and will grow to an estimated $6.4 billion in 2020.
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