CHRISTIE & CO SUPPORTS EXTENDAM AND KENATRA HOSPITALITY IN THE ACQUISITION OF THE BEST WESTERN LINKO IN AUBAGNE
Christie & Co's Aix-en-Provence has assisted EXTENDAM and Kenatra Hospitality in the freehold acquisition of the Best Western Linko hotel in Aubagne.
Located in the centre of Aubagne and close to the train station, the Best Western Linko was the subject of a joint operation with Kenatra Hospitality supported by Crédit Agricole Alpes Provence. The 72-room, 3-star hotel boasts an exceptional view of the old town and the Provencal hinterland.
This is EXTENDAM's first deal with KENATRA HOSPITALITY, headed by Gwenaël Le Houerou, a seasoned professional with excellent local roots.
"Gwenaël Le Houerou has been involved in mid-scale hotel management for over 13 years. At Accor, he contributed to the definition, creation and development of the Suitehotel brand before becoming general manager of Novotel and Suite Novotel France, then becoming independent. His inventiveness and experience in hotel management under the brand name allow us to envisage good development scenarios for this new acquisition", explains Inès de l'Aulnoit, Managing Partner of EXTENDAM.
"We are delighted with this acquisition with Gwenaël Le Houerou. Our expertise combined with our partner's excellent knowledge of the market allows us to identify very good growth levers and to make this hotel a reference asset in the region", explains Bertrand Pullès, Deputy Managing Director of EXTENDAM.
The transaction was coordinated by Thibault Lebray and Thomas Krynen of Christie & Co's Aix-en-Provence office who conclude: "We are delighted to have accompanied Gwenaël Le Houerou and EXTENDAM in this acquisition. It only took one visit for this off-market project to appeal to them due to its location in the city centre, its capacity and its rooftop offering an unobstructed view of Mount Garlaban, so dear to Marcel Pagnol. We are convinced that Kenatra Hospitality will be able to exploit the full potential of this establishment and we wish it every success in this new adventure.
About Christie & Co
For over 80 years, Christie & Co has been providing buyers and sellers with advice, valuation and transaction services in all hotel segments, from budget establishments to palaces, from independent hotels to branded hotels. Its 180 negotiators in 29 offices around the world, including 5 in France (Aix-en-Provence, Bordeaux, Lyon, Paris and Rennes), have a portfolio of 500 hotels for sale on average at any given time. In 2019, they were entrusted with 3,600 assignments, representing a total amount of €7 billion.
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With nearly 180 investment transactions completed over the past 10 years and a portfolio of more than 259 hotels in France and Europe, representing an asset value of more than €2 billion as of June 30, 2021, EXTENDAM is the leading private equity firm dedicated to the budget and mid-range hotel sector in Europe.
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