New acquisition for Paris Inn Group : Conversion of an office building into a 5-star hotel in the heart of Paris (France)
On behalf of Paris Hôtel Capital, PARIS INN GROUP, the expert in investment and Paris upmarket hotel management, announces the acquisition of the Céline (the LVMH Group) head office building located at rue du Pont Neuf in the 1st arrondissement in Paris that belonged to German investment funds managed by INTERNOS. |
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New acquisition for Paris Inn Group : Conversion of an office building into a 5-star hotel in the heart of Paris (France)
On behalf of Paris Hôtel Capital, PARIS INN GROUP, the expert in investment and Paris upmarket hotel management, announces the acquisition of the Céline (the LVMH Group) head office building located at rue du Pont Neuf in the 1st arrondissement in Paris that belonged to German investment funds managed by INTERNOS. |
Category: Europe - France - Industry economy
- Group or hotel buyout
This is a press release selected by our editorial committee and published online for free on 2015-01-26
After complete renovation entrusted to Atelier COS and the interior decoration agency EDO, this office building will be transformed into a 5-star hotel-boutique and in 2016 will unveil an innovative, chic and totally exclusive concept in Paris.
On behalf of Paris Hôtel Capital, PARIS INN GROUP announces the acquisition of a 3,130m² (33,691 ft2 ) building for office use, located at 23-25, rue du Pont Neuf in the 1st arrondissement.
Only a stone's throw away from Pont Neuf, this future 5-star establishment has the advantage of an exceptional location. The Louvre-Rivoli district is currently undergoing significant transformations and major urban projects are under way, such as the complete redevelopment of the Halles district: a new garden, an extended pedestrian area and a restructured underground public road network, a new edifice inspired by nature - La Canopée - which will connect the town above with the town below, a bigger more functional RER (Paris metropolitan and regional rail system) and a brighter more modern Forum. This is an entirely new environment to reflect a Paris that is just as modern, welcoming and dynamic.
The building, which belonged to German investment funds managed by INTERNOS and until now was occupied by the luxury Group, Celine (a LVMH Group subsidiary), is to be transformed into a 5-star hotel with 60 rooms and suites offering luxury services to its clientele: restaurant, spa, swimming pool, hammam, sauna, gym, etc.
The Haussmann-style 1886 building belonged to the Gervais family until the beginning of the 1970s and will benefit from a complete and enterprising renovation by PARIS INN GROUP, Atelier COS and the interior decoration agency, EDO. The old building will be transformed into a splendid 5- star hotel-boutique with 60 rooms and suites with a warm undulating atmosphere resulting from the closeness of the establishment to the Seine. This atmosphere will be embodied by wooden architecture that gives the impression of being in motion and which will be in perfect harmony with the decorative luxurious layout of the common areas and rooms. The whole unit will present an innovative, chic and exclusive concept that marks a complete break with traditional hotel offers.
After 18 months of work and an opening scheduled for the 2nd quarter of 2016, this promising future address on the Right Bank will offer the best of contemporary luxury hotel establishments and will back up Paris Inn Group's development policy for the management of high-end (5-star) hotels. It will join Champs Elysées Mac Mahon***** and will be the 2nd establishment of the new Franco-Chinese luxury hotel trademark, ALBAR HOTEL COLLECTION, a product of the joint-venture between PLATENO HOTELS GROUP and PARIS INN GROUP.
In the framework of this operation, PARIS INN GROUP was advised by DTZ France (Matthieu Garreaud), the legal firm, Flusin (Cécile Miralles) and Cabinet Richard (Charly Richard). The project's financial partners were the banks Palatine (Leonard Tomczak and Samuel Guillemin) and BRED (Julia Quiros and Cyriaque Augait). As for the sellers, they were advised by the legal firm, Wargny Katz & Associés.
About Paris Inn Group :Paris Inn Group is an investor and asset manager specializing in the Paris hotel sector. The company is run by Jean-Bernard and Céline Falco and has its origins in a family business spanning four generations. Set up in its current form in 2005, Paris Inn now manages 29 hotels of which one 5-star hotel and twenty-seven 4-star hotels, with a total of 1.900 rooms and 700 employees. As at December 31st 2014, the company's annual consolidated turnover reached €81.4 million.
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