EXTENDAM and VICARTEM Acquire the Hôtel Atlas in Brussels
EXTENDAM and VICARTEM have completed their first joint acquisition in Belgium through the purchase of the real estate and business assets of the Hôtel Atlas Brussels. This 3-star, 88-key hotel is located on Rue du Vieux Marché aux Grains, just a few hundred meters from the Grand Place in the historic city center of the Belgian capital. The property will undergo significant renovation work to reposition it as a 4-star boutique hotel, developed and operated by Younight Hospitality, a subsidiary of Vicartem.
Unlocking Potential in a Prime Location
The Hôtel Atlas Brussels enjoys a privileged location in the heart of the city, close to the northern business districts and European institutions, while being just steps away from major tourist attractions like the Grand Place, Manneken Pis, and the Brussels Stock Exchange.
It is situated in the Dansaert district, well-known for its focus on design, art, and fashion. The area is home to both international and local boutiques, as well as the iconic Halles Saint-Géry—a former covered market turned exhibition venue and one of the central sites of the Brussels Christmas market.
The hotel is also close to the central train station and well connected to Brussels Airport as well as other major Belgian cities such as Antwerp and Ghent. It currently caters to both business and leisure clientele.
The independent 88-room property will undergo interior and decorative renovations with the goal of repositioning it as an upscale, independent 4-star boutique hotel.
Acquirers with Deep Knowledge of the Belgian Hospitality Market
Less than two hours from London, Paris, and Amsterdam, Brussels is known as Belgium’s multicultural and economic hub. The city is home to no fewer than 183 nationalities and contributes around 20% of the country’s GDP. Its international reputation is bolstered by key diplomatic and institutional presences, including the European Union and NATO, and it hosts approximately 5,400 resident diplomats, supporting a thriving business tourism market.
In addition to its UNESCO-recognized heritage and over 100 museums, Brussels enjoys strong appeal among leisure tourists, with a relatively moderate seasonality.
“The Belgian market has always been of interest to us and is undergoing notable evolution. Since the pandemic, the hospitality sector has fully regained momentum, with RevPAR up 13.6% between 2019 and 2023. Today, Brussels’ hotel market includes around 175 hotels and 17,600 rooms, with supply growth remaining relatively stable compared to other major European cities. Through the acquisition and value-add repositioning of Hôtel Atlas Brussels, we’re adding a quality asset to the city’s currently underrepresented independent boutique hotel segment,” said Inès de l’Aulnoit and Alexandre Guérin of EXTENDAM.
“We see strong potential in Hôtel Atlas Brussels within the city’s hospitality landscape. The Belgian capital keeps reinventing itself, attracting a wide range of visitors, whether for business or leisure. Its identity—cosmopolitan yet deeply rooted in history—provides a perfect setting for ambitious hospitality projects. With a vibrant cultural scene and global outlook, Brussels continues to evolve as a must-visit destination. Hôtel Atlas Brussels aims to embody this spirit by offering a refined balance of comfort, elegance, and local immersion, meeting the expectations of today’s modern and discerning travelers,” added Romain Gowhari and Aymeric O’Mahony of VICARTEM.
Transaction Leads
EXTENDAM: Matthieu de Lauzon, Alexandre Guérin, Emile Schelfhout
VICARTEM: Romain Gowhari, Aymeric O’Mahony
