Tikehau Capital, a global alternative asset manager, has completed the sale of the 59-room Prélude Opéra boutique hotel in Paris to the Fattal Group. The property will now operate under the Leonardo Boutique brand, representing the Fattal Group's first foray into the French market.
The Prélude Opéra hotel was part of Tikehau Capital's real estate development fund, Tikehau Real Estate Opportunity 2018. Working closely with their operating partner, Welfi Hospitality Management, a complete refurbishment was undertaken in 2020, propelling the hotel to 4-star status. This overhaul has resulted in a notable expansion in the hotel's commercial performance, marked by a significant increase in RevPAR for the city.
Fattal Hotel Group, an internationally recognised player in the hotel industry, operates more than 270 hotels in 20 countries. This strategic acquisition by the Fattal Group reinforces its commitment to expanding its portfolio and establishing a strong presence for Welfi Hospitality Management in France.
"France has long been a coveted destination for Leonardo hotels. With the opening of the Leonardo Boutique Paris Opéra, we are delighted to have laid the foundations for further expansion in France" - Yoram Biton, Managing Director of Leonardo Hotels Central Europe.
"The successful sale of the Hôtel Prélude Opéra underlines the effectiveness of our value enhancement strategy and reflects our unwavering confidence in the dynamics of the hotel market. - Frédéric Jariel, co-head of real estate at Tikehau Capital
