The duo composed by ExtendAM and Cattela Hospitality Europe buys the Holiday Inn Paris-Porte de Clichy, in the 17th district of Paris.
Following the purchase of the Holiday Inn Paris Gare Montparnasse hotel in 2018, ExtendAM and Cattela Hospitality Europe announced on November 19, 2020 the purchase of the Holiday Inn Paris Porte de Clichy.
This 262-room commercial hotel is located in the 17th district of Paris, next to the new Judicial Court and in a district very dynamic in terms of redevelopment. In 2021, the extension of metro line 14, as part of the "Grand Paris" project, will mark a new stage in the rejuvenation of the area.
The hotel previously suffered from the long construction works taking place nearby, but today Catella Hospitality Europe and ExtendAM estimate that the value of the Holiday Inn Paris Porte de Clichy will be increased thanks to the general improvement of the neighborhood in recent years.
This acquisition demonstrates that the Covid-19 health crisis is not slowing down investments in hospitality, which remains a thriving sector. Catella Hospitality Europe is taking advantage of this crisis to undertake major investments to modernize the assets it will operate directly under franchise.
Jean-Marc Palhon, President of ExtendAM, said :
To the good ingredients of this deal has been added the identification of additional extremely strong rebounding capacities emerging post-crisis. Our experience of more than 10 years as a pure player in European hotel investment, coupled with our long-lasting support of operating partners in the sector has shown us that periods of crisis are periods during which investment in this sector is not only necessary but also strategic. Paradoxically, these periods offer the best vintages of private equity when we know how to identify them. It was in this context, and amid the lockdown that, last spring, we seized this investment opportunity.
