Group Ott, the family office of Orco Property founder Jean-François Ott, has emerged as the buyer of the former Campanile Cannes Mandelieu located right next to the Cannes Mandelieu airport.
The hotel including 97 rooms, a swimming-pool and large outdoor areas will undergo a full refurbishment and reopen with a hotel concept focusing on the cinema theme.
Jean-François Ott, CEO of Group Ott commented: ‘We are glad to add this third asset to our hotel division and benefit from the great potential of this hotel and of the Cannes hotel market. We are convinced that in these challenging times there are excellent hotel investment opportunities and will actively continue seeking new assets to acquire.’
Group Ott was founded in 1991 when Jean-François Ott created Orco Property Group in Prague. Orco later became one of the major real estate players in central and eastern Europe.
Ott also launched a successful Central European hotel owner and operator, MaMaison Hotels & Residences.
