Three luxury hotels, including the Trianon Palace in Versailles, in financial turmoil

The noose is tightening on the assets of Michel Ohayon. On January 25, the Commercial Court of Bordeaux placed in receivership three companies of the Financière immobilière bordelaise (FIB) – property of the businessman – which financed the acquisition or operation of the Waldorf Trianon Palace hotels in Versailles, a five-star establishment next to the castle, the Sheraton in Roissy, located in Roissy-Charles-de-Gaulle airport, and the Intercontinental Grand Hôtel de Bordeaux, a luxury establishment located on the Place de la Comédie, a renowned address for the Gironde capital.

This procedure was requested by the Chinese bank Bank of China, which had granted the entrepreneur three loans of around 50 million euros each. In its judgment of January 25, concerning the establishment of Versailles, acquired in 2014, the judges note that“no refund” has not been carried out for a “loan of 56 million euros”. The contract in question expired on January 26, 2022, almost a year ago.

Liquidation risk

In view of “the news of the receivership of the Go Sport group” – brand owned by Hermione People & Brands (HPB), a company itself owned by the FIB -, under collective proceedings since January 19, 2023, the banking establishment took the bull by the horns. His advisers first initiated a procedure for cessation of payments, before requesting the opening of this receivership procedure in the alternative. “We had to stop the costs”notes a relative of the creditor.

During the procedure, the representatives of the Financière immobilière bordelaise argued that it “has a substantial real estate portfolio, the sale of which is in progress in order to allow reimbursement”. However, the judges ordered receivership for each of these three holding companies. Christian Caviglioli, legal administrator in Toulouse, was appointed to set up a reimbursement plan. Otherwise, the companies risk liquidation.

Other land employees worried

These procedures only concern borrowing holding companies. They do not relate to the operating companies of the three hotel establishments. The Sheraton Roissy employs around 190 people. In Bordeaux, the Grand Hotel, affiliated with the Intercontinental, has 250 employees. And in Versailles, the five-star Waldorf Astoria palace employs 200 people.

Asked by The world on the receivership of these companies, the HPB spokesperson refused to comment on this information for lack of a communication mandate for the FIB and forwarded our request to Mr. Ohayon.

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