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BRITTANY, FRANCE-Investment firm Eurazeo has sold the 223-property B&B Hotel Group, based here, to the Carlyle Group for $654 million. The collection of budget hotels across six countries amounts to 16,162 rooms.

The B&B company was started in 1990, and operates at the high-end of the low-cost hotel segment, primarily in France, Germany and Italy. Carlyle officials said the firm intends to expand the company by investing in the continued renovation of current hotels and by accelerating the property’s opening pace throughout Europe. The buyer plans to penetrate further into the core French markets, and significantly expand in Germany (which accounts for only 34 properties) and in Poland, Portugal and Hungary.

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