Eurazeo announced in a press release on 6 June that the Grape Hospitality hotel platform, in which the European investment group holds a 70% stake, had entered into exclusive negotiations with a consortium formed by "a hotel operator and a real estate fund" with a view to selling a portfolio of 23 hotels in France.
According to Business Immo's sources, a consortium has been negotiating this portfolio for some time. It includes Swiss Life AM and B&B Hotels. Amundi is also involved in the transaction as a minority investor.
Swiss Life AM and B&B Hotels declined to comment on this information. At the time of publication, Amundi had not responded to our requests.
The portfolio would mainly comprise hotels located in regional areas.
In a press release, Eurazeo stated that this transaction, which should be finalized by the end of the year, "would be carried out at a valuation approximately 15% higher than the value of the portfolio in Eurazeo's financial statements at December 31, 2023". "It should generate net disposal proceeds of around €35 million for Eurazeo's balance sheet, excluding any adjustment based on closing accounts", added the European investment group.
"We are delighted to announce this transaction, which demonstrates the high quality of Grape Hospitality's assets and their attractiveness in a market with solid fundamentals," said Pierre Larivière, managing director, Eurazeo Real Estate. "The sale of this portfolio would reflect the strength of the operational and real estate expertise of the Eurazeo and Grape Hospitality teams."
Founded in 2016, Grape Hospitality owns and operates 85 hotels and also manages 22 hotels, representing a total of more than 10,000 rooms operated under franchise agreements in seven European countries.