EXTENDAM acquires two ibis hotels in Paris
Strengthening the upward trajectory of the ibis Tour Montparnasse hotel
For this new joint deal, EXTENDAM and François-Xavier Bourgois have chosen the 45-room ibis Tour Montparnasse hotel. The purpose of this acquisition is to establish and develop the hotel’s growth trajectory, in particular through the room refurbishment plan to be carried out in the coming months.
“This second deal in the Montparnasse district shows our confidence in the future of this fast-changing district. A new lease of life for the Tour Montparnasse, the future of the entire district under consideration…, this nerve centre for leisure and business travellers is gradually changing its appearance, and its potential is attracting attention. In September we invested in the Holiday Inn Paris Montparnasse alongside the Paris Inn Group; today we are delighted to support François-Xavier Bourgois with the ibis Tour Montparnasse hotel, which we believe has great development potential,” explain Bertrand Pullès and Jaafar Guessous from Extendam.
New lease of life for the ibis Styles Paris Montmartre Nord hotel
EXTENDAM is also investing in the area below Montmartre, another Paris district undergoing rapid change, with Sylvie Charles and Joris Bruneel, to acquire the ibis Styles Paris Montmartre Nord, a 46-room hotel on rue du Ruisseau in the 18th arrondissement. For some years now, the transformation of Greater Paris North has been rapidly unfolding. The Saint-Ouen flea market is no longer the only attraction. Within the city boundaries, many other cultural or hospitality sites are attracting new leisure and business visitors and the district is continuing to develop. New momentum can also be seen outside the city boundaries with many urban projects in progress or under consideration in Clichy and Saint-Ouen.
“For this 17th hotel and 5th joint investment in Paris, we expect to spend 800,000 euros on renovation work to give the hotel a new lease of life. The hotel will remain open during this renovation work with minimal impact on the hotel’s life and activity. Joris Bruneel and Sylvie Charles will also provide their expertise as experienced hotel entrepreneurs to modernise the hotel’s yield management techniques and create synergies between their various hotels,” add Bertrand Pullès and Matthieu de Lauzon from EXTENDAM.