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Henderson Park and Atream acquire five Novotel Suites hotels in France

  • l.guillotindecorson
  • 19 February 2025
  • 2 minute read
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This article was written by HospitalityOn. Click here to read the original article

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Henderson Park, an international real estate private equity firm, has acquired a portfolio of five hotels in partnership with Atream, a French asset management company, totaling 645 rooms. This portfolio includes properties in Paris (Issy-les-Moulineaux, Montreuil, Saint-Denis), as well as in Lille and Cannes, all operating under the Novotel Suites brand.

The acquisition was carried out in two separate transactions: the purchase of the hotel properties and the simultaneous transfer of operations, allowing Henderson Park to consolidate the entire portfolio under a single structure. The hotels, built between 2000 and 2011, have performed well but have suffered from a lack of investment due to their fragmented management.

The portfolio acquired by Henderson Park includes five properties located in strategic cities. In Paris, it includes the hotels in Issy-les-Moulineaux (128 rooms), Montreuil (166 rooms), and Saint-Denis (101 rooms). Outside of the capital, the portfolio extends to Lille, which has 126 rooms, and Cannes, with a 124-room property.

By consolidating this structure, Henderson Park plans an ambitious modernization program for the rooms and public spaces to enhance the guest experience. This program will also involve updating technical equipment in line with the Paris Agreement goals for 2050, aiming for greater energy efficiency.

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The hotels will continue to be managed by Accor, which has signed new hotel management contracts for these properties. This collaboration enables Henderson Park and Atream to unlock the potential of these hotels while benefiting from Accor’s expertise in hotel management.

“The hospitality sector continues to benefit from secular tailwinds with the number of travellers rising alongside visitor spend, having bounced back strongly since the Covid-19 pandemic. This acquisition adds to our European hotel portfolio, providing us with five well-located, income-producing hotels in compelling markets in France, which remains the world’s most popular destination for international visitors. The transaction presented a rare opportunity to re-assemble the hotel operations and properties of a sizeable portfolio in an effort to capture immediate and future marriage value. We are pleased to start a partnership with Atream who will work closely with Henderson Park’s hospitality team to implement our investment plan on this portfolio.” – Christophe Kuhbier, Head of Investments, Europe, at Henderson Park

“We are very proud to complete this transaction alongside Henderson Park, a leading player in the international hotel market. This acquisition highlights our commitment to managing and enhancing strategic hotel assets in France. As the operating partner and asset manager, we will leverage our expertise to modernize and reposition this portfolio, in an effort to optimize its appeal and performance. This transaction is fully aligned with Atream’s strategy to establish itself as a leading hospitality partner and a key player in private equity. We look forward to working closely with Henderson Park and Accor to unlock the full potential of these properties.” – Pascal Savary, Chairman at Atream

This acquisition strengthens Henderson Park’s global portfolio in the leisure and hospitality sector, which already includes over 11,000 rooms across key markets such as the United Kingdom, Greece, France, Ireland, Spain, and the United States. This collaboration between Henderson Park, Atream, and Accor aims to optimize the potential of the properties while addressing current environmental and economic challenges.


 

Please click here to access the full original article.

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