Operational management for the Hôtel Patrimoine private equity fund
In 2016, Hôtel Investissement Capital (GP -15000008), the investment management company authorized by the French Financial Markets Authority (AMF), raised €38m for its first investment vehicle: the private equity fund Hôtel Patrimoine, a closed fund reserved for institutional investors and private wealth.
Following four investments and one exit, the Hôtel Patrimoine fund portfolio comprises three 3-star hotels in Paris and Issy-les-Moulineaux. Honotel Développement is responsible for their operational management in line with the Happyculture Collection label.
With the investment bank Lazard, €50m LBO for the Timotel portfolio
In 2003, Honotel carried out its first LBO operation, acquiring a portfolio of 15 Timotel brand hotels with Lazard. Financing was provided by Crédit Agricole CIB. Honotel took on the asset management and operational management of these 2 and 3-star hotels, all located in Paris.
In 2006, the portfolio was sold with an IRR of over 35% for the period.
With Chequers Capital, joint management of the CHF venture capital fund
In 2008, in partnership with Chequers Capital, Honotel set up the venture capital fund CHF. From 2008 to 2012, the two partners built up the fund’s portfolio by acquiring 19 hotels in line with a cherry-picking strategy. They are responsible for all aspects of both asset and operational management.
Between 2014 and 2017, the hotels were sold on a unit basis, achieving an IRR of over 15% for the period.