French independent asset management company Mata Capital has purchased the Simply Hotels Group in France from real estate funds managed by Blackstone Group.
The transaction volume was not revealed, but the parties said that the deal represented the largest portfolio sale in France so far this year.
JLL advised on the sale of the Simply portfolio which consists of 45 budget and economic hotels, for a total of 3,286 guestrooms, mainly operated by the brands Kyriad, Ibis Style, Campanile and Première Classe.
The properties are located in major cities including Paris, Nice, Lyon and Marseille, as well as regional business and leisure hubs.
Partnering with Mata Capital, Jean-Michel Dalmasso, formerly of Dolmen Capital Partners, has been appointed CEO of the Simply Group.
According to JLL, the purchaser has planned a significant investment programme in the renovation and market positioning of the portfolio.
