(GETTY IMAGES NORTH AMERICA/MICHAEL M. SANTIAGO)
The French high-end hotel group Chapter Six, formerly Addresses Hôtels, announced Friday the entry into its capital of Goldman Sachs, which will allow it to acquire new establishments of 20 to 70 rooms, according to a press release.
“This acquisition, although a minority stake, is a major merger for Chapter Six, which has nearly 400 employees today, and thus intends to capitalize on its know-how in the operation of high-end hotels,” indicates the group.
Chapter Six, which has eight hotels including six in Paris and two on the Côte-d’Azur, will open its first establishment in the mountains in the Megève resort this winter, “foreshadowing future openings”, thanks to Goldman’s investment Sachs.
In Paris, the group is also working on a hotel project at the Bus Palladium, a legendary Parisian club whose doors closed in 2022, and on another project in Barbizon in Seine-et-Marne.
It is with its “alternative investments” platform (private equity, real estate, etc.) that the asset management branch of the American bank Goldman Sachs enters the capital.
According to Les Echos, the stake is 20%.
“This investment will allow us to better capitalize on our investment experience alongside the main real estate and hotel platforms around the world,” said Richard Spencer, European real estate manager at Goldman Sachs Alternatives, quoted in the press release.
Goldman Sachs also owns the French budget hotel group B&B, which it would like to separate from, according to the financial agency Bloomberg.
“The trust placed in us by Goldman Sachs marks a turning point in our development and will allow us to establish our development in France and elsewhere…”, welcomes Nicolas Saltiel, president and founder of the Chapter Six group.