Hotel news and transactions from around the European region: Hera Invest acquires three hotels in Saint-Etienne in France, Singapore CDL Hospitality Trusts acquiring Hotel Indigo Exeter in the UK and more...

Mohari, Omnam and Pharrell Williams acquire Hôtel Saint James & Albany, Paris

Mark Scheinberg’s luxury hotel investment firm Mohari Hospitality, together with London-headquartered Omnam Investment Group and American musician Pharrell Williams, have acquired the historic 175-room Hôtel Saint James & Albany in Paris, France. The property was reportedly sold by a family for a price somewhere between €180 million and €200 million (€1.03 million to €1.14 million per room). Overlooking one of Paris’s most famous streets, Rue Saint Honoré, in the city's first district, directly across from the Tuileries Gardens and River Seine, and just a five-minute walk from the Louvre Museum, the property’s location is outstanding. The hotel was closed a few years ago for an “extensive and lengthy renovation”. The new owners are reportedly close to finalising the details of a repositioning and rebranding strategy for the hotel. 
 
Hera Invest acquires three hotels in Saint-Etienne in France from Extendam

French investor Hera Invest has acquired three Accor-branded hotels (220 rooms) and one small commercial property in Saint-Étienne, France, from French investor Extendam. The properties were listed on the market at the start of 2024 with an asking price of €23 million (around €100,000 per room). The portfolio includes three adjoining properties located opposite Saint-Etienne’s main train station, being the four-star, 77-room Novotel Saint-Étienne Centre Gare Châteaucreux, the adjoining two-star, 84-room ibis Budget Saint-Étienne Centre Gare Châteaucreux, and a separate adjacent bar/restaurant property operated under the French brand Au Bureau. The last property, the two-star, 59-room ibis Budget Saint-Étienne Stade, is situated some 2 kms north of the other three. Specialising in the development of economy and mid-range hotels, this acquisition brings Hera Invest’s portfolio to a total of 13 hotels.
 
CDL Hospitality Trusts acquiring Hotel Indigo Exeter in the UK

Singaporean REIT CDL Hospitality Trusts (CDLHT) has entered into an agreement to acquire the four-star, 104-room Hotel Indigo Exeter and two retail units, from British hotel operator Hotel Exe Limited and British real estate firms Plaza Properties and Plaza Retail. The reported price is £19.4 million, including the two retail units that have a value of approximately £4 million based on annual rent of around £375,000. The hotel is situated in central Exeter by the city’s main retail high street. It was converted from a former House of Fraser department store and opened as a hotel in December 2022. The property will reportedly maintain its operations under IHG’s Hotel Indigo brand.

Experimental Group acquires Sinner Paris from Pierre Bastid entities

French firm Experimental Group has acquired the five-star, 43-room Sinner Paris in France, from Zaka Investment, the family office of French investor Pierre Bastid, and its hotel arm, Evok Collection. The reported price was €53 million (€1.2 million per room). Sinner Paris is located on the Right Bank in the fashionable Marais district, some 15-minutes walk from the Seine and Notre-Dame Cathedral. The sale aligns with Evok Collection’s strategy to focus on its luxury Nolinski and Brach hotel brands, which aims to expand globally. Founded in 2007, Experimental Group started off as a Paris cocktail club and developed into a portfolio of 11 hotels.
 
Art-Invest acquires Courtyard Vienna Prater/Messe from Deka Immobilien

German real estate investment manager Art-Invest Real Estate has acquired the four-star, 251-room Courtyard Vienna Prater/Messe in Austria, from German REIT Deka Immobilien. The hotel opened in 2008 and is part of the ‘Viertel Zwei’, an urban development situated in the 2nd district by the Messe Vienna conference centre and the Vienna Prater amusement park. Art-Invest acquired the hotel for its core budget hotel fund, marking the fund's first investment in the Austrian market. The property is leased on a long-term basis to a subsidiary of the Borealis Hotel Group. This transaction follows Art-Invest's acquisition of four B&B Hotels in Germany from Covivio last week, as reported in this newsletter. 
 
Extendam and partners acquire Hotel Mercure Lyon Centre Lumière from AccorInvest

French investors Extendam, Bpifrance and Financière Sisters, along with French operating partner Sohoma, have acquired the four-star, 78-room Hotel Mercure Lyon Centre Lumière in Lyon, France. The hotel is located in the 3rd district of Lyon, some 2 kms from the Lyon Part-Dieu main train station and 3 kms from Lyon’s historic centre. Sohoma will operate the property under the Mercure brand. The hotel will form part of the Invest Hôtel Meyzieu (IHM) portfolio, in which Extendam funds have held a majority stake since June 2021. This acquisition brings the IHM portfolio to a total of 19 hotels, 13 of which are situated in Lyon. 
 
Dutch consortium acquires NH Berlin Postdam from Sector Seven and Ffire

A consortium of Dutch investors has entered an agreement to acquire the former four-star, 243-room NH Berlin Potsdam Conference Center Kleinmachnow in Kleinmachnow, Germany, from German investors Sector Seven and Ffire Immobilienverwaltung AG, for conversion into retirement living. The property is situated some 25 kms south-west of the centre of Berlin and 15 kms outside of Potsdam. The hotel has been closed since summer 2020 and will now be converted into an upscale living concept for seniors, which includes a variety of wellness, health and catering facilities. Retirement home operator Schönes Leben Gruppe will rent and operate the property. 

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