Affiliates of Angelo Gordon and EQ Group announced this afternoon the completion of the acquisition of five hotels in Paris, from French Listed company Gecina, for €181 million. These hotels, all operated under Intercontinental Hotels Group (IHG) and Marriott International brands, are located across the French capital.
The hotels comprising 814 rooms are Holiday Inn Paris Notre Dame, Holiday Inn Paris St. Germain des Près, Holiday Inn Paris Versailles Bougival, Courtyard by Marriott Boulogne and Courtyard by Marriott Paris Roissy Charles de Gaulle.
EQ Hotels Ltd. will manage four of the assets directly under franchise and the Courtyard by Marriott Paris Roissy Charles de Gaulle, will be managed by Marriott International and asset managed by EQ Hotels Ltd.
Angelo Gordon & Co., L.P. is a privately held limited partnership founded in November 1988. The firm currently manages approximately $34 billion with a primary focus on credit and real estate strategies. Angelo Gordon has over 515 employees, including nearly 210 investment professionals, and is headquartered in New York, with associated offices elsewhere in the U.S., Europe, and Asia. For more information, visit www.angelogordon.com.
EQ Group formed in 2011, has invested in, managed or asset managed over 4,500 rooms across Europe, operated under international hotel brands including Hilton, Marriott and Intercontinental Hotels. Working as an Operating Partner with institutional capital, EQ combines institutional quality discipline with an entrepreneurial, hands on operational management to identify and execute value-added hospitality real estate opportunities.