Our business

Our expertise creating value for our investors

RESEARCH AND ANALYSIS

Search for strategic assets with a critical size on their market (100 rooms minimum), added value for the destination, meeting demand and the customer mix.
Research strategy and investment analysis supported by in-depth knowledge of hotel asset markets and operations.
Very good knowledge of the networks of intermediaries, operators, managers, bankers and owners, thus allowing efficient sourcing.

STRUCTURING AND REALIZATION

Coordination of acquisition audits (“due diligence”), negotiation of legal and financial aspects with sellers, negotiation and lifting of debt.
Optimization of the ownership structure to maximize cash flow increases and reduce tax friction / unrealized capital gains or losses.
Negotiation with sellers, lessors, financial partners and operators.
Implementation of shareholders' pacts and joint ventures.

ASSET MANAGEMENT

Permanent financial monitoring (budgets, reports, audits and management control), legal and administrative monitoring of companies.

Follow-up of day-to-day operational management, implementation and follow-up of the commercial strategy, optimization of distribution and management of Revenue Management and HR, cost optimization and management of third-party operators if necessary.

EXIT

Maximization of asset liquidity by optimizing acquisition contracts and proactive Asset Management including the conduct of any recommended restructurings.

Constitution of the documentation necessary for the sale, selection of intermediaries and identification of potential buyers.
Creation of a favorable sales context to carry out the operation in the best conditions.

Secure investments generating
a better risk/return ratio

Purchase type

Real estate and/or Goodwill by buyout of company(ies) or real estate assets

(“share” or “asset” deal)

2 to 5* hotels

Profitability target

Core (+): initial yield from 4% and up to 7%+ with Asset Management before leverage/debt.

Value-Add: 12 to 20% targeted IRR.

LTV up to 60% depending on location and investment types.

Investment

Targeted equity of €500m to be deployed over the next 3 years.

Investment vehicle envisaged: SPV held by a single or a limited number of investors.

Location

Major European cities (Paris, Amsterdam, London, Madrid, Berlin, Munich, Frankfurt, etc.) and destinations driven by demand combining business and leisure tourism.

Asset Profile

Assets with a unit value greater than €20M or portfolios of assets (€100-300M).

Existing hotels, under construction (VEFA or future sale), or in operation.

No brand restrictions, ability to purchase non-branded assets.