Atream Acquires Two Properties in Provence and Paris, France

Main Photo: Le Domaine de Mousquety

Date: March 2021

Locations: L’Isle-sur-la-Sorgue, Provence and Paris – France

Names: Le Domaine de Mousquety and NEMEA aparthotel

No. Keys: 140 and 42

Sellers: Belambra and NEMEA Group. Belambra has some 58 resort Clubs throughout France, under four Belambra brands…Clubs, Selection Clubs, Hotels and Residences, owned by the Caravelle family, headed up by CEO Frederic Le Guen.

NEMEA, founded in 1994 by MD, Pascal Recorbet, has four brands under the NEMEA name: NEMEA, which manages seaside, mountain and countryside residences, NEMEA Appart’Hotel, which manages inner city hotel residences, NEMEA Appart’Etud, which manages student accommodation and NEMEA Vacances, a travel agency.

Buyer: French private equity firm Atream has acquired the 140-room Le Domaine de Mousquety in L’Isle-sur-la-Sorgue, in Provence in the south of France from French hospitality firm Belambra for a reported price of €15.6m. The property’s location is a 25 minute drive from Avignon-Provence Airport. The hotel, which sits on 22 hectares of parklands, was bought for renovation purposes, and the acquisition was carried out on behalf of SCPI Atream Hotels. The renovation will upscale the hotel, allowing it to join the “Belambra Clubs Sélection.”

Atream has also acquired the 42-room NEMEA aparthotel in Paris from the NEMEA Group, which manages 70 properties around France. The acquisition is accompanied by a long lease and was carried out on behalf of SCPI Atream Hotels. The hotel is located in Levallois-Perret near metro line three in Paris’s 17th arrondissement and features a furnished rooftop and a sauna.

The NEMEA aparthotel at Levallois Perret, Paris

Atream’s hotel assets include a number of Centre Parcs, Mama Shelters, Mercure and Club Med.

Price: Le Domaine de Mousquety: €15.6m

Price per Key: €111,000

THPT Comment: Atream motoring ahead with these two acquisitions, to add to their 140 plus acquisitions since 2008, both in France and internationally, under the direction of Pascal Savary and Gregory Soppelsa.

First Seen: 4Hoteliers

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