Schroders Capital’s hotels team, private equity specialist ExtendAM, and family office Cèdre have finalised the sale of the Hotel Eiffel Blomet Paris to Financière M.P. Landowski for an undisclosed amount. The Eiffel Blomet is a four-star boutique hotel with 87 rooms, located in the 15th arrondissement of Paris, comprising a wellness area which includes a swimming pool.
The hotel opened its doors in June 2017, after repositioning work was undertaken by architects Vincent Bastie and Bruno Borrione. The hotel was managed by Schroders Capital. Since the acquisition of the hotel in June 2018, Schroders Capital’s hotels team has repositioned the hotel as a popular destination on the Parisian market.
The implementation of an effective revenue management policy, coupled with astute cost management, made it possible to significantly increase the hotel’s net profit during the holding period.
Source: https://propertyeu.info/Nieuws/Schroders-Capital-ExtendAM-and-Cdre-sell-Paris-hotel/2d67a026-2c58-4802-b386-fb9c0ca9fadf, 20 March 2023