JV acquires former Hôtel Saint-James & Albany in Paris

France: Funding companies Mohari Hospitality and Omnam Funding Group, alongside musician Pharrell Williams, have collectively acquired the previous Hôtel Saint-James & Albany in Paris.

Situated within the 1st Arrondissement on the financial institution of The Seine in Paris, the historic five-star lodge is presently closed for an “in depth and size renovation” in keeping with its web site.

The acquisition marks the newest acquisition by Mohari and Omnam for the reason that two firms launched a JV in summer time 2022, concentrating on luxurious lodges, F&B and leisure all through Europe.

J. Allen Smith, CEO of Mohari Hospitality, mentioned: “This challenge exemplifies our dedication to figuring out and creating distinctive luxurious hospitality initiatives that ship unparalleled experiences on the earth’s most fascinating locations. It’s however the newest instance of how, in partnership with Omnam, we are able to apply our market information, working experience and trade perception to deliver again to life an distinctive property. We intend to honour the property’s extraordinary romantic heritage whereas creating a brand new lodge which represents the state-of-the-art of recent luxurious hospitality.”

David Zisser, founder and CEO of Omnam Group, added: “We’re extremely excited to exhibit, as soon as once more, Omnam’s experience in creating lifetime luxurious hospitality experiences with such a singular historic constructing in a metropolis as storied as Paris, and in a very distinguished location within the metropolis. This distinctive asset has been chosen because the flagship of our distinctive partnership with Mohari, which has created an unparalleled, united group of visionaries, pushing the boundaries of design, visitor expertise and sustainable expertise.”

American musician Pharrell Williams opened his first lodge in 2021 with the launch of The Goodtime Resort in Miami. The property joined Marriott’s Tribute Portfolio in 2023.

A seaside resort referred to as Someplace Else, situated within the Bahamas, can also be as a consequence of open in 2024.