Patrominia Group a Tertiary real estate specialist and the hotel operator HMV (Hotels et Maisons de Ville) are launching a partnership to invest in hotel properties and funds.
Patrimonia Invesstissements, a subsidiary of the Patrimonia Group, has partnered with the HMV Group to set up a real estate club deal fund that would enable them to collectively acquire the economic hotels with strong potential for value creation, including increases in RevPAR, and the improvement of the operational management of the properties.
The first club deal will include 650 rooms in more than 12 hotels, all located in France, the majority of which are currently under an exclusive negotiation.
The aim of the project is also to create value over the next 5 and 7 years by relaunching the properties, after renovations, expansions, and rebranding. Indeed, both partners affirm the resistance of the economic segment in France, despite all the current constraints, linked to the Covid-19 crisis.