Among
the noteworthy deals of the past week was Sono Hotels & Resorts acquisition
of the Hotel Dame des Arts in Paris from Angelo Gordon and EQ Group for €120
million ($130.2 million).
PARIS — Sono Hospitality, which is the European arm of South
Korea-based Sono International, acquired the Hotel Dame Des Arts in Saint
Germain-Des Pres in Paris from a joint venture of London-based EQ Group and New
York City-based Angelo Gordon, which is owned by TPG, for €120 million ($130.2
million).
The 109-key hotel reopened in early 2023 after an extensive
renovations in 2021 and 2022. The JV acquired the hotel and four other properties in 2019 for a
reported €181 million.
The hotel is located near the Notre-Dame cathedral, and will
continue to be operated by EQ Group. The sellers acquired the property, then a
Holiday Inn, in 2019 as part of a five-property portfolio in Paris which they paid
a reported €181 million.
Sono currently owns 16 hotels in South Korea and this is the
company’s first in Europe.
To download our list of deals from the past week in Excel
format, click here.