Private equity real estate firm Henderson Park has acquired a portfolio of five hotels in France alongside asset management firm Atream.
The 645-room hotel portfolio consisting of properties in Paris, Lille and Cannes was acquired through two separate transactions for an unspecified amount.
Built between 2000 and 2011, the hotels operate under the Novotel Suites brand. They will remain under the management of French multinational hospitality company Accor, which has signed new management agreements for the properties.
Henderson Park said it plans to consolidate the portfolio’s ownership structure to fully capitalise on value creation through an asset management strategy. This strategy focuses on upgrading guest rooms and public areas to enhance the customer experience.
Christophe Kuhbier, the head of Europe investments at Henderson Park, said: “The hospitality sector continues to benefit from secular tailwinds with the number of travellers rising alongside visitor spend, having bounced back strongly since the Covid-19 pandemic. This acquisition adds to our European hotel portfolio, providing us with five well-located, income-producing hotels in compelling markets in France, which remains the world’s most popular destination for international visitors.
“The transaction presented a rare opportunity to re-assemble the hotel operations and properties of a sizeable portfolio in an effort to capture immediate and future marriage value.”
Pascal Savary, chairman at Atream, said: “This acquisition highlights our commitment to managing and enhancing strategic hotel assets in France. As the operating partner and asset manager, we will leverage our expertise to modernise and reposition this portfolio, in an effort to optimise its appeal and performance.
“This transaction is fully aligned with Atream’s strategy to establish itself as a leading hospitality partner and a key player in private equity. We look forward to working closely with Henderson Park and Accor to unlock the full potential of these properties.”
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