Goldman Sachs Group’s private equity arm is exploring a sale of B&B Hotels in a potential deal that could value the European budget hotel chain at about €3.5 billion , according to people familiar with the matter. Advisers at Goldman Sachs and Morgan Stanley are working to identify potential bidders for the business, which opened its first hotel in France in 1990, the people said. It’s drawn inbound interest after completing a €1.25 billion refinancing this month, according to the people.
B&B runs more than 770 budget-friendly hotels mainly across France, Germany, Italy and other European countries, according to its website. The company, which was founded in a port city in northwestern France, added more than 170 new hotels since 2022 and plans to continue on its expansion this year, the website shows. Goldman Sachs bought the business in 2019 from PAI Partners in a deal valuing B&B at €1.9 billion.