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In Toulon, a hotel project calls for crowdfunding

Born out of an association between two startups, Set On Invest by Olivier Derycke and Baltis Capital, the future hotel Artyster Toulon will appeal to crowdfunding in order to invest in the conversion of the building. This is one of the first projects of this type in France.

The startup Set On Invest, founded by Olivier Derycke (former COO Europe of the Louvre Hotels Group), specializes in new hotel and restaurant concepts. It has partnered with Baltis Capital, the collaborative commercial real estate investment platform in order to launch a participatory hotel investment project in France.

The hotel will appeal to individuals through crowdfunding to invest in the walls of Toulon's former covered market, an Art Deco style building that will host the hotel Artyster Toulon once it has been renovated. The total investment amounts to 6.25 million euros, but the amount to be collected from private individuals is set at 500,000 euros, with a minimum entry ticket of 5,000 euros per participant.

Located in Toulon's historic center, this new property will have an urban setting and will offer 44 rooms as well as a gym, a co-working area, a street food restaurant and an ephemeral dining concept. It will also have a vegetated rooftop and an exhibition space animated by a community of artists. It is expected to open in March 2019.

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