Fattal Group has purchased the Hotel Prelude Opera in Paris from Tikehau Capital, marking its entry into the French market.
Located at 8 Cite Bergere, the hotel comprises 59 rooms and in 2020, underwent an extensive renovation programme after which it gained 4-star status. The hotel will now be rebranded under the Leonardo Boutique brand.
JLL and IMHOTEL were both mandated for the sale. Fattal Group was brought by JLL.
Why it matters
This move by Fattal is a continuation of its expansion strategy following a 2023 which saw it purchase the former Le Méridien hotel on Piccadilly - now called The Dilly - for over £80million and the 5-star Grand Hotel in Brighton. It seems this purchase is just the beginning in terms of Leonardo’s plans for France.
What they said
Yoram Biton, Managing Director Leonardo Hotels Central Europe said: “France has long been a coveted destination for Leonardo Hotels. With the opening of the Leonardo Boutique Paris Opéra we are very happy to have created the basis for further expansion in France.”
Frederic Jariel, co-head of real estate at Tikehau Capital added: “Having acquired the Hotel Prélude Opéra in 2019, we implemented a comprehensive renovation program during the challenging Covid period, elevating it to a 4-star status. This strategic enhancement not only contributed to the improved operational performance of the hotel but also positioned it favourably for a successful exit”.
Laura Ben-Ibgui, head of France hotels transaction for the EMEA Capital Markets at JLL added: “Hotel Prélude Opéra's central location in the 9th arrondissement and its critical size brought significant attention from domestic and international investors highlighting the investors’ confidence in Paris.”