Invesco Real Estate is repositioning of the Terminus Nord hotel in Paris as a 25hours lifestyle brand, creating the first 25hours outside of the German-speaking markets, on behalf of its Thai client, Hua Kee. The repositioning includes a €30m investment, which will see a 24-month step-by-step renovation programme take place without disrupting daily operations.
INVESCO REAL ESTATE REPOSITIONS LANDMARK PARIS PROPERTY AS 25HOURS HOTEL ON BEHALF OF HUA KEE FROM THAILAND
- Strategic repositioning of Terminus Nord hotel as a 25hours hotel brand, one of Europe’s trendiest lifestyle brands, and the first outside of the German-speaking markets.
- Project includes complete modernisation of the 236-room hotel while daily operations continue.
- Invesco Real Estate negotiates management contract between existing owner, Hua Kee, and 25hours Hotel Company.
Invesco Real Estate (IRE), the global real estate investment manager, is pleased to announce the strategic repositioning of the Terminus Nord Hotel in Paris to the lifestyle brand 25hours. A 24-month refurbishment will take place to reconfigure the property as the first 25hours branded hotel outside of the German-speaking markets. In parallel IRE has implemented the first hotel management contract between 25hours Hotel Company and Hua Kee.
IRE acquired the Terminus Nord hotel property in 2014 on behalf of its Asian separate account client, Hua Kee, a Thai family office that owns and operates several hotel properties in South-East Asia and Australia. The combination of this trophy asset and the location of Paris, one of the most popular European travel destinations, along with the opportunity to reconfigure and rebrand the property as a more lifestyle concept persuaded Hua Kee to make its first hotel investment in Europe.
Marc Socker, Managing Director of IRE’s Hotel Fund Management team, comments: ?We were delighted to assist our client Hua Kee to acquire this trophy asset in Paris and, as part of the reconfiguration to the 25hours lifestyle brand, work alongside our client to negotiate the first management contract with 25hours. Our 10-year track record in investing in pan-European hotels is testament to the demand we continue to see from institutional investors due to the sector’s attractive income component.”
Hans-Peter Hermann, Director of Hotel Asset Management at IRE, adds: ?The repositioning of the property in Paris to create one of the trendiest lifestyle hotels in Europe is a unique project in which our client is investing c.€30m. Over the next 24 months, the entire hotel will be redesigned including all 236 rooms as well as the restaurant and bar. The step-by-step renovation, which takes place without disrupting daily operations, is naturally a challenge, but we are confident in our ability to carry this out successfully with our partner 25hours, with whom we are delighted to be working.”
“Hua Kee is delighted to work with 25hours and Invesco Real Estate on the major renovation of the Terminus Nord Paris hotel," comments Pichet Nithivasin, Director of Huakee Group. Hua Kee will continue to expand its hospitality footprint in Europe and Australasia.
Christoph Hoffmann, CEO 25hours comments: “25hours hotels aren’t ready-made, but are customised for every location. The 25hours hotel in Paris will be colourful, romantic and especially diverse. The design team is working on a kaleidoscope of stories relating to Paris, the hotel’s immediate surroundings as well as the comings and goings at Europe’s busiest train station. Our guests will certainly have an all-round 25hours experience from the very first day.”
The hotel with 236 rooms will be completely renovated in two stages, starting in spring 2017. The first 141 rooms of the 25hours Terminus Nord hotel and large sections of the public areas will open in summer 2018. The hotel renovation, including the restaurant and bar, is scheduled for completion in spring 2019. 25hours stands for hotel experiences in design-oriented boutique hotels. The brand is associated with individuality, authenticity, zeitgeist and nonchalance. 25hours currently operates eight hotels – the 25hours hotel in Paris is the first one located outside the German-speaking countries.
