06 Feb 2006
French budget hotel chain sold
One of the largest privately-owned hotel chains in France, Marmotte, has been sold to Didier Ferre, who owns numerous hotels franchised under both the Accor and Louvre Hotel brands.
The Marmotte chain consists of 27 budget hotel properties located throughout the country offering more than 1,000 bedrooms.
The sale was advised by the Paris office of Christie + Co, which has predicted that 2006 is set to be a busy year for the French hotel market.
“The interest shown by investors in the acquisition of this portfolio demonstrates the level of demand for the budget hotel segment, which accounts of 65 per cent of the hotel supply in France,” said Christie + Co director Catherine Rawanduzi.
“This transaction confirms investors’ huge interest in the whole hotel sector and not only for the upscale hotel properties, which have recently been sold.”
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