Extendam and Catella Hospitality Europe acquire largest Holiday Inn in France
A joint venture led by Catella Hospitality Europe and Extendam has acquired the largest Holiday Inn in France.
Situated in the immediate vicinity of Paris, near the newly built Tribunal Judiciaire, the Holiday Inn Paris Porte de Clichy is a midscale business-oriented hotel of 262 rooms, and one of the largest hotels in Paris’s conurbation. The property, which was acquired from a Swiss family office at a significant discount compared to pre-COVID prices, had historically been impacted by the continuous development works disruption in the close vicinity.
Catella Hospitality Europe and Extendam believe there remains significant value to be created, especially taking into consideration the general uplift of the micro location. Clichy is regarded as one of the most dynamic redevelopment areas next to Paris and already witnessed the emergence of numerous corporate offices and of premium residential projects. By January 2021, the neighborhood will complete its rejuvenation