With over 5,000 keys across Europe, EQ Group has cemented its position in Paris, where the group already has six hotels, with its 5th Marriott branded hotel under a strong working relationship with Marriott International.
"This acquisition reinforces our conviction in the strong underlying fundamentals of the Paris hospitality market, which has experienced tremendous growth in 2022. We are excited to partner with Eternam to unlock value through a strategic renovation of the asset," said Namid Mangalji, Senior Managing Director and Co-Founder of EQ Group.
Eternam is an investor on behalf of its clients in over 80 assets through 25 transactions. The Courtyard Paris Arcueil marks its 13th hotel acquisition this year, building on its strong position in this asset class.
"Due to our strategy of partnering with renowned hoteliers who have a thorough understanding of their markets, the partnership with EQ is a natural progression," said Jonathan Donio, Deputy Chief Executive Officer of Eternam, "This [acquisition] highlights our expertise in the structuring of club deals and offering our clients access to a property that is typically reserved for institutional investors."
Located conveniently near the Porte de Versailles and 15 minutes by train to central Paris, the Courtyard by Marriott Paris Arcueil hotel, operated by Marriott International, features 170 guestrooms, a restaurant and a fitness centre, ideal for leisure and business travellers alike.
