Goldman Sachs in Talks to Acquire B&B Hotels

31 May 2019Richard D. K. Turner

Goldman Sachs, an American investment bank, is in talks to acquire B&B Hotels. The French-owned hospitality group’s portfolio includes eight hotels in Portugal.

According to an article in the Jornal de Negócios, PAI Partners, which controls B&B, is in talks with Goldman and expects to conclude an agreement during the second semester of 2019 for an estimated 2 billion euros. PAI acquired B&B in 2016, for €790 million.

Since its first investment in Portugal, the B&B Hotel Cantanhede Coimbra, the French group has invested 70 million euros to expand its footprint in the country, opening a total of eight hotels. In total, B&B has approximately 486 hotels around the world, generating revenues of 580 million euros in 2018.

Original Story: Jornal de Negócios