He must be happy.
Icon, entrepreneur and celebrated musician Pharrell Williams, who is also the current men’s creative director at fashion house Louis Vuitton, has teamed with Mohari Hospitality and Omnam Investment Group in acquiring a historical hotel in Paris’ 1st arrondissement.
Formerly known as the Hôtel Saint-James & Albany, the asset marks the latest acquisition by the Mohari and Omnam JV, which was created in July 2022 to increase the impact of developments in luxury hospitality, F&B and leisure across Europe.
The terms of the transaction were not disclosed. The hotel has closed for “extensive and lengthy renovation” according to its official website.
The acquisition of Hôtel Saint-James & Albany marks the dedication of Mohari and Omnam to create innovative luxury hospitality projects in the most desirable destinations, said J. Allen Smith, CEO of Mohari Hospitality.
“It is but the latest example of how, in partnership with Omnam, we can apply our market knowledge, operating expertise and industry insight to bring back to life an exceptional property. We intend to honour the property’s extraordinary romantic heritage while creating a new hotel which represents the state of the art of modern luxury hospitality.”
Sitting between Rue de Rivoli and Rue du 29 Juillet in central Paris, close to many popular attractions, including the Louvre Museum, the hotel is located right in front of the Tuileries Gardens. It overlooks the Rue Saint Honoré, one of the most iconic streets of Parisian fashion and luxury, and is one of the few properties offering a direct view of the Tuileries and the Terrasse des Feuillants.
“We are incredibly excited to demonstrate, once again, Omnam’s expertise in creating lifetime luxury hospitality experiences with such a unique historical building in a city as storied as Paris, and in a particularly distinguished location in the city,” said David Zisser, founder and CEO of Omnam Group. “This unique asset has been selected as the flagship of our exceptional partnership with Mohari, which has created an unparalleled, united team of visionaries, pushing the boundaries of design, guest experience and sustainable technology.”
Established in 2011 by Zisser, Omnam is a global real estate development development and investment firm with hotels in cities across Europe, including Four Seasons Puglia, Baccarat Hotel Florence, the Edition Lake Como and the Kimpton POST in Rotterdam (currently under construction).
Mohari and Omnam were advised by lawyers August-Debouzy, GALM and Ashurst alongside PWC. Eastdil Secured advised on the transaction and affiliates of Apollo Management International LLP served as lenders.
Founded by Mark Scheinberg in 2017, Mohari focuses on luxury lifestyle and hospitality investments. Mohari’s investments include Tao Hospitality Group and Riviera Dining Group, along with a collection of world-renowned properties operating under brands including the Four Seasons Madrid; 1 Hotel Toronto; Andaz; Four Seasons and Ritz Carlton Reserve Resort and Residences at Peninsula Papagayo; and the Ritz-Carlton Yacht Collection.
