The French group Park & Suites has purchased its competitor Appart'City from Menguy Investissements. It is going to convert its existing properties to Appart'City, except for upper positioned properties that will remain under its Park & Suites brand. To date, the French supply under the Appart'City (in green) and Park & Suites (in black) brands is as follows:

The deal was enabled by fresh equity brought by Equistone Partners Group, which took a 40% stake in Park&Suites, enabling the company to close the deal. The seller Menguy Investissements Group handed over the management of the Appart'City portefolio, which comprises 80 French and Belgian properties dedicated to extended stay, and which are classified from 2 to 4 stars.

Management of this reinforced group, now a leader in French urban extended stay hotels, is given to Pierre Denizet, which is the current chairman of the board of GMI/Appart'City. Edouard Bon and Jean-François Pech will stand at his sides. Franck Manna, currently VP of Park&Suites, joins the group's holding structure and will be on charge of strategic projects & development, and will oversee the hotel and extended stay hotel activities.

The group has four additional properties announced for opening in Rennes, Strasbourg, Metz and Annemasse.