Grape Hospitality, 70%-owned by Eurazeo, has entered into exclusive negotiations to sell a portfolio of 23 hotels in France to a buying consortium comprising a hotel operator and a property fund.

This transaction, which marks a key stage in the platform's strategy, will enable the group to refocus on the mid- and top-range segments while increasing the value of its assets.

This sale is part of a strategic refocusing process for Grape Hospitality, in line with its development and repositioning objectives. Indeed, since its creation in 2016, Grape Hospitality has worked closely with Eurazeo's Real Estate team to transform and develop its hotel portfolio, notably through operational and property repositioning initiatives and business diversification into innovative segments.

Grape Hospitality owns and operates 85 hotels and also manages 22 others, totalling more than 10,000 rooms under franchise in seven European countries. The sale, which is expected to close by the end of the year, should generate net proceeds of around €35 million for Eurazeo, excluding any adjustment based on the closing accounts. The expected valuation of this portfolio is approximately 15% higher than its value in Eurazeo's financial statements at December 31, 2023.

“We are pleased to announce the expected sale of this portfolio, showcasing Grape Hospitality's assets’ high quality and strong appeal in a market with solid fundamentals. This transaction would demonstrate the operational and real estate expertise of Eurazeo and Grape Hospitality teams.” - Pierre Larivière, Managing Director, Eurazeo - Real Estate