Atream reasserts its faith in the French tourism industry with the launch of FPCI Atream France Hôtellerie I, its first private equity fund (FPCI) made up entirely of hotels in France.
- Private equity fund (FPCI) focused on the acquisition of hotel management companies and hotels themselves in France, according to a rigorous selection criteria.
- With this new investment tool, Atream is helping to revive the French hotel industry and to boost France’s competitive edge over its European neighbors.
- Product eligible for reinvestment (article 150 0 B-Ter of French General Tax Code) and not subject to France’s real estate wealth tax (IFI).
- Consolidation of Atream’s position in the strategic French tourism segment.
Paris, February 27, 2020 – Atream, which has notably specialized in tourism industry investment for the past 12 years, has launched the private equity fund FPCI Atream France Hôtellerie I, a new investment solution made up entirely of French hotels and reserved for experienced investors who are prepared to invest a minimum of €150,000.
As the world’s number one tourist destination, France boasts a dense and diverse collection of hotels, with a wealth of investment opportunities. The French tourism industry is a real growth driver for the economy. It generates nearly €160 billion in sales and employs 2 million people. In 2028, France is forecast to welcome 119 million visitors, with 57 million of them coming from abroad. That amounts to 34.5% growth over a period of 10 years. This dynamic growth is underpinned by a boost in the country’s attractiveness thanks to upcoming events such as the Rugby World Cup in 2023 and the Olympics in 2024.
Given this context of strong growth for the industry, FPCI Atream France Hôtellerie I is expected to deliver solid returns, with a performance goal set at 7%. Atream’s strategy is to build a collection of quality property assets and to support the value of the assets over time to achieve a potential capital gain in the medium term.
Atream targets a portfolio of assets worth €50 million, comprising five or six hotels in the middle to high-end range, national or international, located in the center of French tourist cities, each worth between €8 and €15 million (including any renovation work), with real value-creation potential.
For Pascal Savary, Chairman of Atream: “The hotel industry enhances a country’s appeal. With the launch of FPCI Atream France Hôtellerie I, Atream has affirmed its desire to help revive the French hotel industry by adding new value-creation drivers to build up the current offering. Our expertise in the European tourism industry, paired with our historic relationship with major hotel management companies, enabled us to create this private equity fund—an investment solution that it is perfectly suited to the market.”
FPCI Atream France Hôtellerie I has been open for registration since February 1, 2020. Investments in FPCI Atream France Hôtellerie I will be frozen for a minimum of 7.5 years, to which Atream may choose to add two one-year extensions (for a total duration of 9.5 years). The solution also includes an income tax exemption for capital gains earned after five years.
Founded in 2008 by Pascal Savary and Grégory Soppelsa, ATREAM is an independent management company, accredited by AIFM, specialized in creating and managing real estate funds and providing real estate investment advice for corporate and individual investors. With a presence in many real estate investment segments, ATREAM has developed specific and recognized expertise in assets in the tourism, service and winemaking industries, as well as in residential buildings. ATREAM owns €3.5 billion in managed assets, including €1.5 billion hotel and tourism assets, with recognized partners such as Club Med, Mama Shelter, Center Parcs, Mercure, Novotel Suite and Hampton by Hilton. www.atream.com.
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