The properties at hand are located in France and operated under the Budget and Economy brands of the Louvre Hotels Group.
The third party portfolio management company Viveris Reim announced the signature of a protocol of agreement bearing on the acquisition of a portfolio of 26 Budget and Economy hotels located in France. These properties are operated by Louvre Hotels Group, under the Campanile, Première Classe and Kyriad brands. The actual acquisition is scheduled for the month of May.
"This portfolio was subject to due diligences that validated our interest in these assets as they are geographically well diversified and have interesting potential for a hotel market segment that has shown good resiliency in recent years," declared Fabrice Lombardo, Co-chair Asset Management at Viveris REIM.
The acquisition was made by OPCI Club Deal, which specializes in the hotels for which Viveris REIM is currently setting up a funding pool with French investors, and should be followed by other transactions that are currently under analysis. The goal is to expand the portfolio to a gross total of 150 million euros.
"This portfolio was subject to due diligences that validated our interest in these assets as they are geographically well diversified and have interesting potential for a hotel market segment that has shown good resiliency in recent years," declared Fabrice Lombardo, Co-chair Asset Management at Viveris REIM.
The acquisition was made by OPCI Club Deal, which specializes in the hotels for which Viveris REIM is currently setting up a funding pool with French investors, and should be followed by other transactions that are currently under analysis. The goal is to expand the portfolio to a gross total of 150 million euros.
France
