Algonquin Management Partners welcomes Bpifrance and BNP Paribas Développement as new shareholders to boost its growth

Bpifrance and BNP Paribas Développement have announced a 23m€ investment in Algonquin Management Partners – a leading European hotel operator, investor and asset manager – in order to support the growth of its activities in France and in the rest of the world. This investment, led by Bpifrance, enables the two co-investors to become minority shareholders and join Jean-Philippe Chomette, the group’s founder, who remains the majority shareholder through Algonquin SA, and the management team led by Frédéric de Brem, CEO of Algonquin Management Partners, and Stéphane Obadia, Managing Director in charge of development.

Founded in 1998 by Jean-Philippe Chomette, Algonquin Management Partners has today become a leading hotel investor and asset manager, with 40 hotels (c. 8,000 rooms) under management, for a total value of 1,5bn€.

Algonquin Management Partners has grown fast. Over the last few years, hotels have managed to draw the attention of new types of investors, becoming an asset class of its own. Algonquin Management Partners’ ability to co-invest as well as manage all the operational aspects, which are specific to the hotel industry, is what attracts these new investors. This know-how includes operational management along with technical knowledge of the hotel real estate industry.

Algonquin Management Partners, whose first hotels were located in France and where it is currently a market leader, is implementing its strategy of consolidating its leadership in France and of continuing its development in Europe. The company is targeting new countries such as the Czech Republic and Spain, and reinforcing its presence in countries where it is already present such as Italy, Belgium, Poland, the United-Kingdom or Germany. The objective is to complete at least 3 new investments per year and pass 2 bn€ of assets under management by 2020.

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