A B&B Hotel in Mannheim, Germany Rudolf Stricker | Wikipedia Goldman Sachs is in talks to buy B&B Hotels from private equity firm PAI Partners, the companies said on Monday, in a deal which an earlier report from the Financial Times said could be worth 1.9 billion euros ($2.1 billion). Goldman Sachs Merchant Banking Division, the bank's investment fund arm, and PAI Partners did not disclose how much the transaction could be worth in their statement. B&B Hotels had 2018 sales volumes worth 580 million euros, and it runs a network of 476 hotels, competing with the likes of Accor. The global hotels industry has recently shown signs of solid growth, with Marriott issuing a relatively upbeat outlook earlier this month while Accor also expressed confidence over its 2019 outlook in April.
Goldman Sachs is in negotiations with PAI Partners over a reported $2.1bn deal to acquire B&B Hotels. The bank is expected to make the purchase through its investment fund arm, Goldman Sachs Merchant Banking Division. In an interview on Bloomberg TV, Mr Trump said he was “very happy” about the deal.