Dolce Chantilly, France Purchased by Banimmo Real Estate
JANUARY 18, 2007. Dolce International, the global hospitality company specializing in the meetings experience for its customers, announced the sale of Dolce Chantilly to the Brussels- and France-based Banimmo Real Estate firm. Banimmo purchased the 200-room Hotel, Resort & Conference Destination, located near Paris, for EUR45 million (approximately $58 million) from Dolce/AEW, L.P., Dolce's limited partnership with Boston-based AEW Capital Management. Dolce will continue to manage the hotel under a new 15-year management agreement, retaining the hotel's name, staff and policies.
Banimmo also recently acquired Dolce La Hulpe Brussels near Brussels (to open 1 February 2007) and holds more than 30 other wholly owned and joint venture commercial properties in Brussels, Antwerp, France and Luxemburg.
"We are delighted at Banimmo about this first acquisition of a hotel conference center to be managed by Dolce because Chantilly has a strong position in the Ile de France market and complements our development of the new Dolce center in La Hulpe, Brussels; we also have great expectations about further growing our relationship with Dolce International in Europe," said Didrik van Caloen, Chief Executive Officer of Banimmo Real Estate.
"Since Dolce has been managing the property for the last 8 years, and will maintain the management contract for the hotel under the new ownership, the sale will be seamless to its guests and employees," stated Andy Dolce, Chairman and Managing Partner of Dolce International. "The sale of Dolce Chantilly supports Dolce's ongoing European strategy of divesting in real estate holdings while retaining long term management agreements."
Set amidst the countryside in the heart of the historic Chantilly region, the three-story hotel underwent a renovation and expansion in 2001. This modern hotel offers more than 22,000 square feet of meeting space to accommodate social and business meetings and events. A business center and fitness center are also on property for guest use, as well as three restaurants, two bars, two swimming pools, a fitness center, an 18-hole golf course. Dolce Chantilly is just 40 minutes from Paris and only 25 minutes from the Roissy Charles de Gaulle International Airport.
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