- ABOUT -
The Grape Hospitality group was formed on June 30, 2016, by regrouping the business and premises of 85 budget and mid-range hotels under the AccorHotels franchise, within a newly created platform. Present in France and 7 other European countries, Grape Hospitality has become a major player in the European hotel sector.
- INVESTMENT CASE -
What was the transformation objective?
Eurazeo Patrimoine wishes to create a major hotel investment player in the European market. The goal of Grape Hospitality is to revitalize this hotel portfolio, which features a solid positioning and extensive presence within the various markets. Accordingly, Grape Hospitality will develop the entire hotel portfolio and add to its value by deploying an ambitious renovation program, in addition to a marketing and sales strategy geared towards the local market of each hotel.
How is Eurazeo assisting Grape Hospitality in its transformation?
Eurazeo is supporting the management team with respect to the creation of the hotel group, the definition of its strategic and operational plan and the implementation of its CSR, finance, HR, and project management strategies. Grape Hospitality will benefit from Eurazeo’s knowledge of the hotel market and savoir-faire in the areas of transformation and development, as well as the human and financial resources necessary to achieve the Group’s proactive strategy.
Now an independent platform, Grape Hospitality has begun to activate its growth drivers with the support of Eurazeo Patrimoine: a €120 million renovation and repositioning program over the next two years, as well as commercial initiatives and partnerships to optimize and develop revenues. These prospects for value creation will rely on its hotel operational expertise, its asset management know-how and portfolio expansion opportunities.
- CSR initiative example -
As part of the Grape Hospitality group’s renovation campaign covering more than 2,000 hotel rooms, LED bulbs have been used to replace halogen bulbs. This will enable the group to save 2,000 MWh per year.