Tuesday, 30 September 2014
Algonquin sells premises and business of two hotels located in Reims (FR)
Algonquin completed the sale of the premises and the business of two hotels operated by international brands and located in the center of Reims, France.
Holiday Inn Reims Centre: the 82-room, four-star hotel located in the center of Reims was purchased by a family office under a Sale & Management Back agreement.
Ibis Styles Reims Canal: the 66-room, three-star hotel located a stone’s throw from the cathedral and the Palais des Congrès was purchased by a Paris-based hotelier.
BNP Paribas Real Estate Hotels and Christie + Co were appointed to advise Algonquin on the deal.
According to Bruno Juin, Managing Director of BNP Paribas Real Estate Hotels, “the crucial factors for the investors were the hotels’ prime locations, the outstanding quality of the renovation and repositioning work undertaken by the owners and the vitality of the city of Reims.”
“We would like to stress that the sale was completed in record time,” says Maxime Dubois, Head of Key Accounts at Christie + Co. “The buyers were also intrigued by the advantages offered by the hotels due to their location in the heart of a thriving and easily accessible city.”
Source: BNP Paribas Real Estate