Covivio Sells Club Med Resort for €125m
Main Photo: Club Med Grand Massif
Date: March 2022
Name: Club Med Grand Massif Samoëns
Location: Samoens, France
Number of Keys: 420
Seller: Covivio
Buyer: Perial Asset Management
Covivio has sold the Club Med Grand Massif in Samoëns, France for €125 million to Perial Asset Management.
The hotel has been operating since its opening by Club Med under a long-term lease with a fixed rent. The resort comprises 420 guest rooms, two restaurants, two bars, accommodation for 165 employees, as well as a range of leisure facilities and kids’ clubs.
In recent times Perial has moved to diversify its assets to include the hotel sector. The investment is via the firm’s PFO2 fund. CBRE advised Covivio on the transaction, while Hova Hospitality (Dominique Ozanne), Oudot et Associés and Ashurst advised Perial.
Stéphane Collange, chief investment officer at Perial Asset Management said: “We are very proud to have Club Med Samoens in our PFO2 portfolio, which is perfectly in line with the diversification strategy. This Club Med offers top-of-the-range services and received the ‘Best Ski Hotel’ award in 2021 by the World Ski Award Academy. This is our first mountain hotel based on the recognised expertise of Club Med, the world leader in premium all-inclusive holidays.”
Price: €125m
Price per Key: €298k
THPT Comment: We guess that the danger of going asset-lite, as Fosun’s Club Med have done, is your landlord will change from time to time. Probably not a problem with Perial being that landlord
First Seen: Hospitality Insights
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