Fattal Group has purchased the Hotel Prelude Opera in Paris from Tikehau Capital, marking its entry into the French market.
The hotel, located at 8 Cite Bergere, consists of 59 rooms and underwent a major renovation in 2020, after which it achieved a 4-star rating. It will now be rebranded as a Leonardo Boutique hotel, following its sale. The sale was managed by both JLL and IMHOTEL, and Fattal Group was the buyer brought in by JLL.
Yoram Biton, Managing Director Leonardo Hotels Central Europe said: “France has long been a coveted destination for Leonardo Hotels. With the opening of the Leonardo Boutique Paris Opéra we are very happy to have created the basis for further expansion in France.”
Frederic Jariel, co-head of real estate at Tikehau Capital added: “Having acquired the Hotel Prelude Opera in 2019, we implemented a comprehensive renovation program during the challenging Covid period, elevating it to a 4-star status. This strategic enhancement not only contributed to the improved operational performance of the hotel but also positioned it favourably for a successful exit.”
Laura Ben-Ibgui, head of France hotels transaction for the EMEA Capital Markets at JLL added: “Hotel Prelude Opra's central location in the 9th arrondissement and its critical size brought significant attention from domestic and international investors highlighting the investors’ confidence in Paris.”
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