Mohari, Omnam, Williams buy Paris property

PARIS – Mohari Hospitality and Omnam Investment Group, along with entertainer and entrepreneur Pharrell Williams, have acquired for an undisclosed amount the former Hôtel Saint-James & Albany in the 1^st arrondissement of Paris with still-to-be-announced plans to revitalize and reopen the hotel. This marks the latest acquisition of the Mohari/Omnam joint venture, which was announced in 2022 to 2022 to increase the impact of developments in luxury hospitality, food & beverage and leisure throughout Europe.

The asset is located between Rue de Rivoli and Rue du 29 Juillet in central Paris, close to the Louvre Museum and is in front of the Tuileries Gardens. It overlooks Rue Saint Honoré, one of the most iconic streets of Parisian fashion and luxury.

A spokesperson told Hotel Investment Today, “Currently, the property is not operational as we are in the final stages of finalizing the details related to branding, timing and size.”

Mohari, a global investment firm founded in 2017 by Mark Scheinberg with a focus in luxury lifestyle and hospitality investments, has assets across Europe, the Middle East, Asia, and the Americas. Its investments include Tao Hospitality Group, Riviera Dining Group, as well as a portfolio of hotels including the Four Seasons Madrid, 1 Hotel Toronto, three resort and residences at Peninsula Papagayo in Costa Rica; and the Ritz-Carlton Yacht Collection. Mohari invests both independently and with partners.

J. Allen Smith, CEO of Mohari Hospitality, said, “This project exemplifies our dedication to identifying and creating unique luxury hospitality projects that deliver unparalleled experiences in the world's most desirable destinations. It is but the latest example of how, in partnership with Omnam, we can apply our market knowledge, operating expertise and industry insight to bring back to life an exceptional property. We intend to honor the property’s extraordinary romantic heritage while creating a new hotel which represents the state of the art of modern luxury hospitality.”

David Zisser, founder and CEO of Omnam Group, added, “This unique asset has been selected as the flagship of our exceptional partnership with Mohari, which has created an unparalleled, united team of visionaries, pushing the boundaries of design, guest experience and sustainable technology.”

Mohari and Omnam were advised on the acquisition by lawyers August-Debouzy, GALM and Ashurst alongside PWC. Eastdil Secured advised on the transaction and affiliates of Apollo Management International LLP acted as lenders.