In the first Parisian transaction of the year Capital France Hôtel (CFH), the hospitality fund managed by Algonquin Asset Management France, has acquired the Radisson Paris Boulogne Hotel from Compagnie La Lucette. Jones Lang LaSalle Hotels advised Compagnie La Lucette.
Mark Wynne-Smith, CEO of Jones Lang LaSalle Hotels EMEA, said: "This transaction is a sign of medium term confidence in the Paris market. Investors who are still active continue to focus on Paris and London. They are best positioned to weather the financial downturn, could recover more quickly and have had low growth in supply in recent years. Paris is showing remarkable resilience in attracting international and domestic visitors and is likely to maintain healthy occupancy levels. As such Parisian hotels look capable of holding their values in comparison to other cities."
The Radisson Paris Boulogne Hotel is located on 31/33 avenue Edouard Vaillant in Boulogne Billancourt. The 4 star hotel was completed in 2005 and features 170 rooms, a bar, a restaurant and 5 meeting rooms.