Tikehau Capital acquires Parisian hotel, initiates new value-add real estate strategy
Tikehau Capital, the global alternative asset manager, has purchased 4* Hotel California in the 8th arrondissement, Paris, through the second vintage of its pan-European value-add real estate impact strategy.
The 4* Hotel California had been closed for more than two years and has not benefited from any recent major renovations. Located close to the Champs-Élysées Avenue in Paris, it will undergo ambitious renovation work and a commercial repositioning to cater to both the business and leisure clientele. This asset should be able to take advantage of the dynamic Parisian hotel market in the run-up to the 2024 Olympic Games. The acquisition of the 172-key hotel is part of a plan to rehabilitate and reposition under-utilized assets and is in line with Tikehau Capital's new value-add real estate investment strategy, which intends to contribute to the three following themes through the versatility of building usage: climate action, biodiversity and inclusive neighborhoods.