Foncière des Murs, the hospitality arm of listed property giant Foncière des Régions, sold 28 hotels in 2012 for €140 mln, as part of its asset rotation strategy.
Foncière des Murs, the hospitality arm of listed property giant Foncière des Régions, sold 28 hotels in 2012 for €140 mln, as part of its asset rotation strategy.
'This demonstrates the high liquidity of this asset class,' the Paris-based company said in a statement.
FdM traded €332 mln of hotel properties last year.
The largest disposals were the sale of 18 hotels including Ibis Marne La Vallée, Mercure Chamonix Les Bossons and Novotel Nancy Sud for a combined €66 mln, the divestment of the 136-room Hotel Mercure Toulouse Compans to Mutuelle Uneo and the sale of a portfolio of Hotel Ibis La Rochelle consisting of the Grosse Horloge, Vieille Ville and Vieux Port.
FdM is the largest landlord of France's three leading hotel operators, Accor, B&B and Louvre Hotels. The real estate company has a total portfolio valued at more than €3 bn.
