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French fund Extendam buys Sofitel Lisbon Liberdade hotel
Extendam, a French fund, has acquired the Sofitel Lisbon Liberdade hotel, announced the company specializing in investments in this area, in a statement released today.
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Economia Extendam
The group, which is dedicated to private equity investments dedicated to the hotel industry, indicated that, with the acquisition, it continues its expansion in Europe, at a time when it also acquired a unit in Rome, Italy.
Extendam recalled that the Sofitel Lisbon Liberdade has 163 rooms.
"These two acquisitions mark the beginning of our partnership with Sofitel, a pioneering brand in French luxury hotels," said Bertrand Pullès, Extendam's deputy general manager, quoted in the same note.
In Lisbon, the hotel will now be renovated, with a focus on sustainability, "and will be updated according to the latest Sofitel brand standards," according to the statement.
This operation is being carried out in conjunction with DG Invest, "one of Extendam's historical partners" that will be responsible for "managing the hotel's assets", and that "the acquisition and renovation of the hotel are financed with a 'green loan' [loan for sustainable projects] granted by CaixaBank and BPI".
Sofitel, in turn, said that the partnership with Extendam will "support the brand's influence" in Europe, said the group's CEO, Maud Bailly in the same note.
The value of the acquisition was not disclosed.
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