LFPI announced it will take over the group of 12 hotels from Lone Star. The amount of the transaction has not been disclosed.
The asset manager LFPI is accelerating its investments in the hotel industry through the takeover of Alliance Hospitality from Lone Star. It will thus control a portfolio of twelve three- and four-star hotels located in the Paris region and in several regional French capitals. All together, the properties account for 1,913 rooms operated under different brands such as Mercure, Crowne Plaza and Best Western.
With this acquisition, LFPI will own and manage a portfolio of 74 hotels, 64 of which are in France and 10 are in Germany, representing more than 6,000 rooms under the brands Timhotel (15 properties), Louvre Hotels Group, Accor, InterContinental Hotel Group and Best Western. The group has been present in the hotel sector for more than 10 years and is actively looking for new opportunities for hotel acquisitions, either singly or as part of a portfolio, real estate and business, or the real estate alone.
Also read:
IHG finalise la vente de l'InterContinental Paris Le Grand
Le Mercure Paris Bastille change de propriétaire
Le Novotel Paris Tour Eiffel change de propriétaire
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