Enhancing Novotel Suites
The portfolio comprises 645 rooms in mid-scale hotels built between 2000 and 2011. They are currently operated under Novotel’s Novotel Suites brand, the select-service sub-brand of Novotel offering only double-double suites.
While the hotels are in strong locations and have delivered robust operating performances, they have been historically underinvested on account of the separate ownership structures.
Henderson Park will upgrade bedrooms and guest-facing areas and modernise the hotels’ technical equipment to improve energy efficiency, unlock operational cost savings and meet the Paris Agreement’s 2050 targets.
The hotels will continue to be managed by Accor, the French multinational hospitality company, with whom new management agreements have been signed.
Key portfolio addition
The portfolio comprises Paris – Issy-les-Moulineaux (128-room), Paris – Montreuil (166-room), Paris – Saint-Denis (101-room), Lille (126-room) and Cannes (124-room).
The leisure and hospitality sector remains a key focus for Henderson Park, with the firm’s global portfolio in the sector spanning over 11,000 rooms across the U.K., Greece, France, Ireland, Spain and the U.S.
Christophe Kuhbier, Head of Investments, Europe, at Henderson Park, commented: “The hospitality sector continues to benefit from secular tailwinds with the number of travellers rising alongside visitor spend, having bounced back strongly since the Covid-19 pandemic.
“This acquisition adds to our European hotel portfolio, providing us with five well-located, income-producing hotels in compelling markets in France, which remains the world’s most popular destination for international visitors.
