Eurazeo Announces Grape Hospitality’s Exclusive Agreement for the Sale of 23 Hotels

Paris, June 6, 2024 – Eurazeo's Real Estate team has announced that its 70% owned subsidiary, Grape Hospitality, has entered into exclusive negotiations to sell a portfolio of 23 hotels in France. The deal involves a consortium formed by a hotel operator and a real estate fund. This sale represents a significant portion of Grape Hospitality’s economic portfolio and marks a strategic milestone for the company.

This transaction aligns with Grape Hospitality's focus on mid-range and upscale segments, highlighting the company’s asset enhancement endeavors. Grape Hospitality currently owns and operates 85 hotels and manages an additional 22 hotels across seven European countries. Established in 2016, it has collaborated with Eurazeo to transform and develop its portfolio, including operational and real estate repositioning.

The sale, expected to finalize by year-end, would yield a 15% premium on the portfolio’s value as of December 31, 2023, and generate around €35 million in net proceeds for Eurazeo. Pierre Larivière, Managing Director of Eurazeo Real Estate, emphasized the high quality and market appeal of Grape Hospitality’s assets.