Schroders, one of the largest asset management companies in the UK, has completed the sale of the Riviera Marriott Hotel in Cap d’Ail, located on the French Riviera. This deal has attracted attention from investors as the hotel is situated in one of the most prestigious resort areas in the world, on the Côte d’Azur.
About the Riviera Marriott Hotel
The Riviera Marriott Hotel is a four-star hotel in Cap d’Ail, just minutes from Monaco. Opened in the 1970s, the hotel gained recognition for its location and high level of service. It features 186 rooms, restaurants, bars, conference rooms, a spa, and an outdoor pool with views of the Mediterranean Sea.
The hotel is popular among tourists and business professionals and has become an important venue for business meetings and international events.
Reasons for the Sale
Schroders acquired the hotel in 2011 for €150 million. During its ownership, the company made significant improvements to the property, increasing its value. However, in recent years, Schroders decided to reallocate its assets and focus on other projects, leading to the decision to sell.
The sale price was €250 million, which represents a substantial capital gain over 14 years.
Financial Details of the Deal
The sale of the Riviera Marriott Hotel was completed for €250 million, which is €100 million more than the original purchase price. The value of the property grew by 67%, a great result for investors seeking stable returns from hotel assets.
The buyer of the hotel is a consortium of major European investment firms and hotel operators. The new owner has already expressed plans to modernize the property, improve its infrastructure, and expand the range of exclusive services offered to guests.
The Hotel Real Estate Market on the French Riviera
The French Riviera is one of the most popular tourist destinations in the world. Cities like Nice, Cannes, Monaco, and Cap d’Ail attract millions of tourists every year. The hotel real estate market on the Côte d’Azur is stable, with properties in prestigious areas experiencing high demand.
The rise in hotel property prices is due to an increase in tourism, growing interest in business events and conferences, as well as major events such as the Cannes Film Festival.
Strategy of the New Owner
The new owner of the Riviera Marriott Hotel has outlined plans to modernize the property, upgrade its infrastructure, and expand the range of guest services. These measures are aimed at improving profitability and strengthening the hotel’s position in the market. Modernization and exclusive offerings for VIP guests will help the hotel remain competitive.
Impact on the Real Estate Market
The sale of the Riviera Marriott Hotel for €250 million highlights the attractiveness of hotel real estate on the French Riviera and the stability of property prices in prestigious locations. This deal also underscores the high liquidity and growing interest from investors in the region’s hotel assets.
The sale of such a major property confirms that the hotel real estate market on the Côte d’Azur remains one of the most profitable sectors for long-term investments.
Conclusion
The sale of the Riviera Marriott Hotel in Cap d’Ail for €250 million is a significant event in the French Riviera hotel real estate market. The deal demonstrated the success of Schroders’ investment and the high appeal of the Côte d’Azur for investors. The new owner will continue to modernize the property, ensuring its growth and profitability in the long term.
