AXA Investment Managers - Real Assets has secured a building permit for the redevelopment of the Tour Paris-Lyon a high rise office-led scheme into a four star hotel in central Paris.
The hotel will be delivered turnkey to operator Marriott International which will manage it under its Courtyard Hotels brand. It is located in Paris' 12th arrondissement, on rue de Bercy, in front of the historic Gare de Lyon train station.
The 12,500 m2 hotel will offer 249 bedrooms, as well as food & beverage services, a conference centre and fitness facilities. Managed by Pitch Promotion with Studios Architecture acting as both base building architect and interior designer, the construction is scheduled to start in autumn 2016, with completion expected by 2018.
This new hotel development will add to AXA IM - Real Assets’ over €2 bn portfolio of hotels across eight countries that it manages on behalf of clients.
'Securing this building permission, along with the partnership of leading hotel operator Marriott, represents a significant milestone for this property,' said Nathalie Charles, regional head of asset management & rransactions, Southern Europe, and Pan-European development leader at AXA IM - Real Assets.
