Schroders Capital and Extendam sell the AC Hotel by Marriott Nice

News release - 7 January 2022

Schroders Capital and private equity hotel specialist Extendam have completed the sale of the AC Hotel by Marriott Nice.  

Located on the Promenade des Anglais in Nice, France, this 4* hotel with 143 rooms, two restaurants, a gym and meeting rooms, was managed by Schroders Capital under a franchise agreement with Marriott.

Since acquiring the hotel in June 2017, the team at Schroders Capital has significantly enhanced its value through the creation of a popular rooftop bar and obtaining approvals to add additional meeting space and bedrooms.

The sale process, overseen by Eastdil Secured, attracted a wide variety of French and international institutional investors. The confirmed buyer is an international hotel owner/operator.

Benjamin Chiche, Investment Director, Real Estate Hotels, Schroders Capital, said :

"Working closely with Marriott, Schroders Capital was able to add significant value to both the operational and commercial aspects of this asset and unlock its full potential. Following the successful implementation of our business plan, we are pleased to deliver significant value for our clients and to transfer this asset to an international hotel owner-operator and long-time partner of the Marriott Group."

Jean-Marc Palhon, President of Extendam, added :

"The AC Hotel by Marriott Nice, 50% co-owned by funds managed by Extendam, has been performing well for several years and demonstrated this again during the summer of 2021. This sale, made a little less than five years after the off-market acquisition of the hotel, validates Extendam's value add investment strategy as well as its choice to co-invest with operators. Nice is a particularly attractive city that we know well and one in which we have acquired several assets. We still currently own several establishments there, including two assets also located on the Promenade des Anglais."

Contacts presse

Wim Heirbaut Press and media relations, BeFirm
Tânia Jerónimo Cabral Head of Marketing Schroders Benelux, Schroders

Schroders Capital

Schroders Capital provides investors with access to a broad range of private asset investment opportunities, portfolio building blocks and customised private asset strategies. Its team focuses on delivering best-in-class, risk-adjusted returns and executing investments through a combination of direct investment capabilities and broader solutions in all private market asset classes, through comingled funds and customised private asset mandates.

The team aims to achieve sustainable returns through a rigorous approach and in alignment with a culture characterised by performance, collaboration and integrity. 

With $70 billion* assets under management, Schroders Capital offers a diversified range of investment strategies, including real estate, private equity, secondaries, venture capital, infrastructure, securitised products and asset-based finance, private debt, insurance-linked securities and BlueOrchard (Impact Specialists).

*Assets under management as at 30 June 2021 (including non-fee earning dry powder and in-house cross holdings)

Extendam

With more than 180 investments over the past 10 years and a portfolio of 259 hotels in France and Europe, representing an asset value of 2.4 billion euros as of June 30, 2021, Extendam is the leading French private equity firm dedicated to budget and mid-range hotels in Europe.

A propos de Schroders

Schroders plc

En tant que gestionnaire d'investissement mondial, nous gérons de manière active et responsable des investissements pour un large éventail d'institutions et de particuliers, afin de les aider à atteindre leurs objectifs financiers et à préparer l'avenir. Le monde est en perpétuel changement, et comme nos clients sont au centre de tout ce que nous faisons, nous comprenons la nécessité de continuer à adapter et à faire évoluer nos activités en fonction de ce qui compte le plus pour nos clients, aujourd'hui et à l'avenir.

Notre succès continu repose sur une expérience et une expertise historiques, grâce auxquelles nous nous associons à nos clients pour élaborer des produits et des solutions innovants dans nos cinq domaines d'activité, à savoir les actifs privés et alternatives, les solutions, les fonds communs de placement, la gestion institutionnelle et la gestion de patrimoine, et nous investissons dans un large éventail d'actifs et de zones géographiques. En combinant notre engagement envers la gestion active et l'accent mis sur le développement durable, nos capacités stratégiques sont conçues pour offrir des résultats positifs à nos clients.

Nous sommes responsables de 815,8 milliards d'euros* d'actifs clients, gérés localement par 42 équipes d'investissement à travers le monde. En tant qu'entreprise mondiale employant plus de 5 500 collaborateurs talentueux répartis sur 37 sites, nous sommes en mesure de rester proches de nos clients et de comprendre leurs besoins. Nous avons plus de 200 ans d'expérience en matière d'investissement et d'innovation et nous restons déterminés à créer un avenir meilleur en investissant de manière responsable pour nos clients.

Pour davantage d'informations sur Schroders, veuillez consulter www.schroders.com.

Schroders est placée sous la surveillance de l’Autorité des services et marchés financiers (FSMA) en Belgique et de la Commission de Surveillance du Secteur Financier (CSSF) au Luxembourg.

*Données au 30 juin 2021

Schroders