Extendam, Bpifrance and Solanet Gestion Hôtelière have completed the acquisition of SCSP, a family holding company which controls, operates and manages a large portfolio of hotels in France.
The deal was described as the largest hotel private equity transaction of the year in France.
SCSP has 12 economy and mid-range assets, totalling nearly 1,200 rooms with another 100-room hotel under construction.
The historical shareholders of SCSP will retain a minority stake in the business.
The properties are located in three areas: Lyon and its surroundings, Geneva and Chalon-sur-Saône.
“We are proud of this acquisition, which gives us a unique opportunity to build a platform in the south-eastern quarter of France while continuing alongside a family that we have known and appreciated for a long time. We are also strengthening our already fruitful ties with our partners Extendam and Bpifrance. We hope to continue in this positive dynamic, ” Timothée Hainguerlot for Solanet Gestion Hôtelière, said.