Henderson Park has acquired a portfolio of five hotels in France
Simultaneous property and hotel operations acquisition to reconsolidate portfolio under single ownership, portfolio comprises 645 rooms across three hotels in Paris and one in each of Lille and Cannes.
The portfolio comprises 645 rooms in mid-scale hotels built between 2000 and 2011 that are operated under the Novotel Suites brand, the select-service sub-brand of Novotel offering only double-double suites. While the hotels are in strong locations and have delivered robust operating performances, they have been historically underinvested on account of the separate ownership structures.
The hotels will continue to be managed by Accor, the French multinational hospitality company, with whom new management agreements have been signed.
The portfolio comprises Paris – Issy-les-Moulineaux (128-room), Paris – Montreuil (166-room), Paris – Saint-Denis (101-room), Lille (126-room) and Cannes (124-room).
The leisure and hospitality sector remains a key conviction call for Henderson Park, with the firm’s global portfolio in the sector spanning over 11,000 rooms across the U.K., Greece, France, Ireland, Spain and the U.S.