The LFPI Group sells the company holding the Timhotel Saint-Georges Pigalle business assets

The hotel, located 21 boulevard de Clichy in the 9th arrondissement of Paris, operated under the Timhotel Saint-Georges Pigalle brand, is a 3-star tourist hotel with 74 rooms.

The buyer, a Parisian hotelier, will carry out a major transformation in order to join the network of an international brand.

The LFPI Group is selling this hotel via its private equity funds dedicated to economy hotels in France and Germany, in the context of arbitrations of its hotel portfolio in France. The hotel, acquired in 2003 and held for more than 10 years, allows the LFPI group to go beyond the initial projections.

The LFPI Group nevertheless remains on the lookout for new opportunities in the hotel and leisure sector. The LFPI Group makes acquisitions of single hotels or in portfolio, buildings and funds or single funds, and manages the acquired hotels. It also offers hotel management services on behalf of third parties. The main brands of hotels owned or managed by the LFPI Group are Timhotel (21 hotels in Paris), Louvre Hôtels (Campanile, Kyriad, Première Classe), Accor (Mercure, Ibis), Intercontinental Hôtel Group (Indigo) and Best Western. The LFPI group owns or manages a portfolio of 65 hotels (55 in France and 10 in Germany). The latest acquisition is the Ibis hotel in Augsburg, with 104 rooms, acquired in October 2014.