AEW Patrimoine has acquired the four-star Paris Marriott Charles de Gaulle Airport Hotel in France.
The hotel, located near Charles de Gaulle airport, is leased to Marriott with a lease of a residual firm term of 13 years.
This 17,000 sqm, 300-key hotel is ideally located in proximity of Paris-Charles de Gaulle airport, Le Bourget airport, the Parc des Expositions Paris Nord Villepinte, as well as the RER and TGV railway station.
The hotel also benefits from excellent road accessibility to the centre of Paris.
Antoine Barbier, Head of AEW Patrimoine, comments: “This acquisition demonstrates our ability to select assets with attractive performance potential over the medium to long term, allowing our clients to seize the opportunities offered by the current market cycle. Both business and tourist air travel have been recovering globally. We also expect global multi-brand hotel operators such as Marriott to be well positioned to benefit from increased international arrivals to the greater Paris region as result of the 2024 Summer Olympics.”
Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!
