Tikehau Capital and Le Groupe de l’Hôtellerie Acquire Two Hotels in Paris
Tikehau Capital (Paris:TKO), the alternative asset management and investment group, with Le Groupe de l'Hôtellerie, the hotel management, investment and development specialist, acquire two hotels in central Paris through Tikehau Capital's Real Estate value-added fund.
The Hotel Corona Opéra and the Hotel Touraine Opéra are both three star hotels with a combined capacity of 97 rooms. These hotels are located in the historical 9th district of Paris, close to the Paris Opera and the large department stores. Built during the 19th century, the hotels have strong potential for development while the hospitality and leisure sector in Paris is growing 1 and offers many opportunities.
A third acquisition for Tikehau Capital's Real Estate value-added fund This operation is Tikehau Capital's Real Estate Value-Added fund third acquisition following its partnership with Bouygues Immobilier, for the Charenton-Bercy redevelopment project in the Greater Paris area, and the acquisition of the Nicholsons Shopping Center in Maidenhead, United Kingdom.
Launched in June 2018, this pan-European value-added fund investing across all asset classes is a vehicle that offers co-investment opportunities to large institutional investors.
Tikehau Capital's Head of Real Estate Frédéric Jariel said: "This investment is another step in the deployment of our value-added fund and confirms our interest in the hospitality sector as part of the dynamic expansion of our Real Estate activity".
An operation carried out in collaboration with Le Groupe de l'Hôtellerie Le Groupe de l'Hôtellerie is a French based hotel management, investment and development specialist, which accompanies Tikehau Capital as a hospitality-operating partner.
Le Groupe de l'Hôtellerie's CEO Gilles Douillard added: "We are excited to work closely with Tikehau Capital on this operation. The hospitality sector offers many opportunities for value-added development projects and we are pleased to share our expertise to support this project".