France: EXTENDAM completes the sale of the 1932 Hotel & Spa Cap d’Antibes – Mgallery Collection
EXTENDAM announces the disposal of the 1932 Hotel & Spa Cap d’Antibes – MGallery Collection, a 64-room, four-star hotel located in Juan-les-Pins, at the heart of Cap d’Antibes. Acquired in 2021 through a dedicated hotel investment vehicle by EXTENDAM alongside its operating partner KER Hospitality, the asset underwent an extensive renovation and repositioning programme completed in 2022. The project enabled the hotel to be upgraded from three to four stars and join Accor’s MGallery Collection, which today comprises more than 120 upscale boutique hotels across over 40 countries. Originally built in 1932 and distinguished by its iconic Art Deco façade, the property was entirely repositioned and refurbished to meet the expectations of a high-end domestic and international leisure and business clientele.
A value-creation strategy focused on repositioning the asset into the upscale segment
As part of the asset repositioning strategy, EXTENDAM and KER Hospitality carried out a extensive repositioning programme of the property to strengthen its positioning within the upscale hospitality segment. The hotel now features 64 rooms and suites, including four signature suites inspired by the iconic spirit of the French Riviera in the 1930s, each benefiting from a private garden and plunge pool.
The property also offers a premium range of amenities, including two meeting rooms, a Codage spa and a fitness centre. Its rooftop, featuring a swimming pool with panoramic Mediterranean views, as well as Quinto Cielo, the hotel’s Mediterranean-inspired restaurant, are among the most distinctive elements of the repositioning strategy. On the ground floor, La Rotonde provides an elegant and light-filled setting, notably for breakfast service.
Completed in 2022, this extensive renovation programme has fundamentally enhanced the property’s quality and long-term competitiveness.
The hotel has been operated by KER Hospitality, EXTENDAM’s long-standing partner, which brought its expertise in hotel operations and asset management throughout the project.
A strategic location at the heart of the French Riviera
Located at 5 Avenue Saramartel in Juan-les-Pins, the 1932 Hotel & Spa Cap d’Antibes – MGallery Collection enjoys a prime setting within Cap d’Antibes, one of the French Riviera’s most sought-after destinations, renowned for its exclusive environment.
The property benefits from excellent domestic and international accessibility, being approximately 25 minutes from Nice Côte d’Azur Airport and 30 minutes from Cannes-Mandelieu Airport. Its immediate proximity to the beaches of Antibes and Juan-les-Pins makes it particularly attractive to leisure travellers, while also benefiting from business demand generated by Sophia Antipolis and the region’s major economic hubs.
Ideally positioned between Nice and Cannes, the hotel also capitalises on the international profile of the French Riviera’s flagship events, including the Cannes Film Festival, the Monaco Grand Prix, MIPIM, the Monaco Yacht Show and Jazz à Juan.
The French Riviera hotel market continues to demonstrate strong underlying fundamentals, supported by sustained international demand, the ongoing premiumisation of the destination’s hospitality landscape and a particularly dynamic events calendar. In this context, assets combining prime locations with a distinctive market positioning continue to deliver solid performances and attract strong investor interest.
“This transaction perfectly illustrates EXTENDAM’s ability to identify high-potential hospitality assets and implement value-creation strategies in highly attractive markets. We are delighted to have completed this project alongside KER Hospitality, a trusted partner with whom we have enjoyed a long-standing relationship. The transformation of the 1932 Hotel & Spa Cap d’Antibes – MGallery Collection, centred on a distinctive upscale positioning and a compelling guest experience, successfully supported the property’s repositioning and generated performance exceeding our initial objectives, delivering an internal rate of return exceeding 20%,” comments Bertrand Pullès on behalf of EXTENDAM.
