Extendam acquires an outstanding asset on the Promenade des Anglais in Nice, France

Extendam has acquired the Hôtel La Pérouse, an iconic hotel on France’s Côte d’Azur, in the city of Nice. Its unique location offers unparalleled views over the Baie des Anges (Bay of Angels) coastline and the Promenade des Anglais walkway. In keeping with its value-add strategy, Extendam intends to restore the hotel’s former glory and transform it into the place to be for the people of Nice.

La Pérouse was built in the first half of the 20th century, shortly after Hôtel Le Negresco. It is nestled on Castle Hill, a few short steps from the port and the old town, overlooking the Promenade des Anglais. The hotel is known for its famous guests, including composer Hector Berlioz, and artists Raoul Dufy and Henri Matisse, both of whose paintings often featured the Baie des Anges.

The hotel will be run by Catella Hospitality Europe, which also assisted Extendam in the purchase of the Holiday Inn Porte de Clichy, Paris, in November 2020. It currently has 56 rooms – 16 of which are suites – a heated outdoor pool, wellness centre, meeting rooms, restaurant and bar. In the months ahead, Extendam and Catella Hospitality Europe will undertake major refurbishments and optimise the hotel’s management. The main aim of the asset management programme is to upgrade the private and public spaces, enhance the terraces and add additional revenue streams by creating a new rooftop restaurant with a view over the Baie des Anges.

“Nice is an especially attractive city with which we are already familiar having acquired several properties there and holding stakes in three other hotels (Ibis Promenade des Anglais, AC by Mariott Promenade des Anglais, and Crowne Plaza – Nice Grande Arenas). Hôtel La Pérouse was performing well in 2019, before the health crisis. The work we are carrying out to upgrade it and turn it into the only boutique hotel on the Promenade des Anglais will give it every opportunity to outperform both its own track record and the rest of the Nice hotel market,” explains Jean-Marc Palhon, Chairman of Extendam.