EXTENDAM ACQUIRES TWO NEW BEST WESTERN HOTELS
Extendam announces the acquisition of Best Western Linko in Aubagne and Best Western Saint-Etienne Porte du Forez, with two new partners. These latest acquisitions see Extendam’s portfolio increase to 259 hotels and 20,294 rooms as of 30 June 2021, meaning that in the first half of the year alone the firm will have acquired more establishments than in the whole of 2020 or 2019.
Best Western Linko, Aubagne (South-East France)
The Best Western Linko, which is located in the centre of Aubagne close to the train station, was jointly acquired with Kenatra Hospitality with funding from the Crédit Agricole Alpes Provence bank. It is a 3-star, 72-room hotel with an outstanding view over the old town and the Provence countryside.
It is Extendam’s first acquisition with Kenatra Hospitality, a company headed up by Gwenaël Le Houerou who is a seasoned professional and enjoys strong local ties.
“Gwenaël Le Houerou has been working in the management of midscale hotels for the past 13 years. He worked with Accor on the creation and development of the Suitehotel brand before taking the reins at Novotel and Suite Novotel France and then setting up his own business. His inventiveness and hotel management experience augur well for the success of this new venture,” says Inès de l’Aulnoit, Managing Partner at Extendam.
“We are thrilled to have acquired this hotel with Gwenaël Le Houerou. With our expertise and Gwenaël’s extensive market knowledge, we will be able to identify excellent growth drivers and ensure that the hotel sets a standard in the region,” explains Bertrand Pullès, Deputy Managing Director at Extendam.
The transaction was coordinated by Christie & Co. “We are delighted to have assisted Gwenaël Le Houerou and Extendam with this acquisition. They only needed to visit the off-market property once to be persuaded by its extremely central location, its capacity and its rooftop terrace with breathtaking views over the Garlaban mountain. We are convinced that Kenatra Hospitality will maximise the hotel’s potential and we wish it every success with this new venture,” explain Thibault Lebray and Thomas Krynen, Christie & Co., Aix-en-Provence.
Best Western Saint-Etienne Porte du Forez (Eastern France)
The acquisition of Best Western Saint-Etienne Porte du Forez is our first with hotelier Nicolas Chambon. This 98-room establishment, easily accessible via the A72 motorway, is located in the heart of the increasingly popular town of Saint-Etienne in Eastern France. Guests can enjoy the on-site restaurant, conference rooms and outdoor pool.
There is enormous refurbishment potential and major renovation work will be carried out to ensure that the property is perfectly in step with local market expectations. Nicolas Chambon’s “By Georgette” concept will also be rolled out, with the food offering and common areas playing a central role.
“Nicolas Chambon is a hotelier and business owner from Saint-Etienne, and a partner of choice for Extendam. He first rose to prominence in 2009, when he acquired the business assets of gastro-hotel Ermitage de Corton, in Beaune. Nicolas and his teams have proven their skills through the development of unique, attractive concepts in mid- and high-range hotels in the towns of Troyes, Beaune and Nuits-Saint-Georges in Burgundy. We are very excited about the launch this joint venture on Saint-Etienne’s doorstep and have already pinpointed a number of growth drivers,” says Alexandre Guérin, Account Manager at Extendam.
The acquisition was carried out with the support of three banks: Banque Populaire Auvergne-Rhône-Alpes, Crédit Agricole Loire Haute-Loire, and Bpifrance Bourgogne-Franche-Comté.