Minor Hotels is set to open three four-star hotels in Paris in the first quarter of 2024 in collaboration with Swiss Life Asset Managers France.
Selected by Swiss Life to manage the three hotels, hotel owner, operator and investor Minor will launch three NH Hotels in the French capital in early 2024, progressing in its European expansion plans.
Minor will enter the Parisian market with the 207-key NH Paris Gare de l’Est and the 103-key NH Opéra Paris Faubourg, as well as a 90-key hotel property which will open as NH Paris Champs-Elysées and will then be launched in 2025 as NH Collection following a renovation.
The three hotels will join Minor Hotels’ current portfolio of six properties in the country located in Marseille, Lyon, Toulouse and Nice. Minor’s portfolio comprises over 540 hotels in 56 countries across Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe, South America and North America. Future openings include NH Collection Helsinki Grand Hansa in Finland, NH Collection Chiang Mai in Thailand and NH Collection Luang Prabang in Laos.
Why it matters
Swiss Life has continued to pursue investment opportunities in Europe’s main markets, further signifiying its confidence in the region. Earlier this year, Johanna Capoani, head of hospitality portfolio management at Swiss Life Asset Managers France stated “There’s never been a better time for hotels in Europe; operational metrics are off the charts. The hotel business saw an incredible recovery in 2022, with Europe coming out on top globally in terms of tourism. This is an exciting moment to be in hospitality.”
What they said
Dillip Rajakarier, CEO of Minor Hotels & Group CEO of parent company Minor International said: “Our team has been searching for the right opportunities in this key market for some time, so we are pleased to announce that, together with Swiss Life AM, Minor Hotels will arrive in Paris not with one but with three hotels. We believe this is an amazing opportunity to grow with two of our brands in the second most visited city in the world and home to the 2024 Olympics.”
Johanna Capoani, head of Hospitality, Swiss Life Asset Managers France added: “We are very pleased at Swiss Life Asset Managers France to develop our hospitality offering with a management agreement with the well-known international hospitality group Minor Hotels and supporting their entry into Paris, a major tourism power. We believe that our synergies will create a new offer under the NH Hotels and NH Collection brands and added value to our customers.”