Sono Hospitality, the European arm of Korea's Sono International, has acquired Hotel Dame Des Arts in Saint Germain-des-Pres, Paris.
Financial details were not disclosed.
The 109-bed upscale hotel opened its doors in early 2023 following an extensive renovation. It has since achieved a number of accolades including the Conde Nast top 20 hotels in Paris Readers’ Choice Awards last year.
Sangkil Park, managing director of Sono Hospitailty, added: 'We are excited to continue with our global expansion plans and to debut in Europe in one of the most exciting global cities of the world.
'We would like to express our thanks to CBRE, K&L Gates, Deloitte, EY, Desfilis, and Attal & Associés Notaires for their unwavering commitment, expertise, and dedication throughout the acquisition process.
'Their collective efforts and strategic counsel have been instrumental in navigating the complexities that come with such deals and as a result, have ensured a successful execution.'
The hotel benefits from a 360-degree rooftop, offering unobstructed views of the Eiffel Tower and the Pantheon, and is within walking distance of the Notre Dame de Paris Cathedral and Louvre Museum.
Global real estate advisor, CBRE, advised Sono Hospitality.
Jileen Loo, senior director, operational real estate at CBRE UK, said: 'CBRE has a track record advising clients across Europe and Asia on the global hospitality market, and we’re delighted to have worked with Sono on their much-anticipated European debut.'
Sami Mendil, head of hotels investment properties, France at CBRE added: 'The Paris hotel market performed well in 2023 and is known for its resilience and high barriers to entry.
'Europe as a whole has maintained its status as a favoured destination for travellers worldwide, particularly in key tourism and gateway cities such as Paris. The Summer Olympics will see tourism in Paris gain further momentum, and we expect this to be reflected in hotel demand levels for the rest of the year.'
Sono Group is consdiered Korea's largest hospitality company. The privately owned firm focuses on hotels and resorts including water parks, ski and golf courses.
