Our investments

24 07 2024

EXTENDAM, 123 IM, and Hotel Operator SOHOMA INTERNATIONAL Acquire a 4-Star Hotel in the Heart of Bruges

Open for over 40 years and well maintained ever since, the Hôtel Navarra boasts undeniable historic charm in the historic center of Bruges, whose medieval heritage is recognized by UNESCO.

The hotel offers many features that appeal to both business and leisure guests, including its close proximity to major cultural landmarks such as the Market Square, the Belfry, and the Basilica of the Holy Blood. The property is also a 10-minute walk from the convention center and the Concertgebouw concert hall, where the city’s main cultural and corporate events are held. With 3,700 m² of space and 94 keys, the hotel offers quality amenities including meeting rooms, a swimming pool, and a fitness center.

Starting in 2025, the new owners will launch a series of improvements that will not involve major structural changes or hotel closure. As of 2024, the new operator, SOHOMA INTERNATIONAL, will implement a dynamic strategy to optimize the hotel’s performance.

A Symbolic Milestone for All Partners

“We are thrilled to sign our first international asset alongside our partners EXTENDAM and 123 IM. Since the launch of SOHOMA INTERNATIONAL in 2023, our aim has been to expand our family-owned group’s activity across Europe. This deal is the first step in an active pan-European strategy focused especially on Belgium, the Netherlands, Portugal, Spain, and Italy. More projects will follow in the coming months,” said Henry Simpson of SOHOMA International.

A family-owned company currently managing over 70 hotels and 5,400 rooms in France, SOHOMA is a long-standing partner of EXTENDAM, with more than 34 joint operations to date.

“This new acquisition with our partners SOHOMA and 123 IM complements our hotel portfolio in Belgium. It’s our fourth acquisition in this quintessentially European country, with additional projects in the pipeline. We were drawn to this asset by its unique heritage character and premium location in Bruges. Situated near the French and Dutch borders, the ‘Venice of the North’ benefits from a prime location just 1 hour from Brussels, 2 hours 20 minutes from Paris, and under 3 hours from Amsterdam or London. As the fourth-largest employment zone in Flanders, Bruges also benefits from direct access to the port of Zeebrugge, a major economic and tourism asset,” added Matthieu de Lauzon of EXTENDAM.

“We are pleased to support the launch of SOHOMA’s international expansion with this first acquisition in Belgium. This beautiful property is strategically located in the historic center of Bruges and is underpinned by solid fundamentals. We are confident that SOHOMA, driven by a dynamic team, will bring its expertise to continue the hotel’s legacy and ensure its long-term success. This new partnership with SOHOMA also allows 123 IM to continue the international growth strategy we initiated in 2019,” said Pierre Reveillon of 123 IM.

This is the first collaboration between SOHOMA and 123 IM.

Transaction Leads

SOHOMA INTERNATIONAL: Henry Simpson, Félix Putatti, Victor Traxelle, Timothée Hainguerlot, Louis Solanet
EXTENDAM: Matthieu de Lauzon, Alexandre Guérin, Emile Schelfhout
123 IM: Pierre Réveillon, Eugénie Teppe, Chloé Roy

Buyer Due Diligence:

  • Legal: CMS

  • Tax: C² reviseurs et Associés

  • Technical: Theop

  • Valuation: In Extenso

Legal Counsel for Investors: Ideact Avocats (Maud Partouche), Apollo (Emmanuelle Prost)
Legal Counsel for SOHOMA: CMS (Catherine Matton, Bruno Duquesne, Sophie Berg)

Transaction Advisors: VDP (Laurent Linkens, Renier Schaubroek), Imhotel (Jean-Marc Andreola), Agnès Marossero