Our investments

27 03 2025

8 New Hotels Join EXTENDAM’s Portfolio

EXTENDAM and the ALBORAN Group announce the acquisition of a portfolio of 8 hotels in Bourges, the European Capital of Culture for 2028. The 2- to 4-star properties currently represent 507 rooms, with further developments planned in the coming years.

Supporting the Transition of a Family Business

Owned by the Falleur family since 1989, the portfolio has now been acquired by EXTENDAM and ALBORAN, alongside Alexandre Falleur, son of the group’s founder. As part of the transaction, Alexandre Falleur increases his capital share and will play an active role in the management of the hotels, while benefiting from ALBORAN’s operational expertise.

Tailored Value-Add Strategy for a Diverse Portfolio

The current portfolio includes:

  • ibis Styles Bourges

  • ibis Bourges

  • Best Western Plus Hôtel d’Angleterre

  • Novotel Bourges

  • Bourbon Mercure Bourges

  • The Originals Access Hôtel Bourges Gare

  • The Originals City Hôtel Le Berry Bourges

  • ibis Budget Bourges

This diverse portfolio will benefit from a tailored CapEx plan, customized for each property. Additional build-up operations will also be considered.

Several value-creation levers have already been identified, including:

  • Implementation of a new revenue management strategy

  • Optimization of operational costs

  • Synergy development across the portfolio

  • Modernization works for selected assets to better capitalize on Bourges’ current momentum

As part of its ESG transformation approach, ALBORAN will deploy its HR policy focused on team well-being and roll out the Green Key certification process across all assets. Energy efficiency improvements are also planned for the Bourbon Mercure and Novotel Bourges properties.

Contributing to Bourges’ Growing Dynamism

Located in the southern Loire Valley, Bourges enjoys a strategic and culturally rich position.

Its economy is driven by a defense cluster and high-tech industries, hosting major firms such as Nexter, MBDA, Auxitrol, and Michelin, as well as military training centers and research facilities. Educational and R&D institutions like ENSIB, Hubert Currien School, LASEP, LEES, LIFO, and LVR also anchor the city’s innovation ecosystem.

Internationally renowned for the Printemps de Bourges festival, the city also boasts UNESCO World Heritage landmarks such as Saint-Etienne Cathedral and the Palais Jacques Cœur, drawing 40,000–50,000 visitors per year, alongside a well-preserved city center with timber-framed houses and extensive museum offerings.

As the European Capital of Culture for 2028, Bourges is set to become even more attractive, both culturally and economically, echoing the transformation of cities like Wroclaw or Marseille.

“This new investment with ALBORAN Group and Alexandre Falleur allows us to own 60% of Bourges’ hotel supply just years ahead of major cultural events. We’re proud to contribute to the city’s growing appeal and to enhance its hospitality offering in anticipation of increased international business and leisure tourism. The diversity and structure of the portfolio enable us to meet all accommodation needs across all segments,” said Inès de l’Aulnoit and Bertrand Pullès for EXTENDAM.