Archer Hotel Capital (“Archer”) today announced that it has completed the acquisition of the Royal St Honore hotel in Paris for a purchase price of €87 million. The 68-key hotel also includes a prominent retail unit located on the quintessential shopping destination Rue St Honore, in the heart of the French capital. The Royal St Honore will be managed by Archer’s operating arm, Archer Hotel Management, which already operates two other properties in the City of Lights.
“We are delighted to increase our footprint in Paris with a high-quality asset in an iconic location. As one of Europe’s leading hotel market, Paris remains a key city for Archer’s expansion.” said Dominic Seyrling, Managing Director of Archer Hotel Capital.
Archer was advised by Evershed-Sutherland, Pricewaterhouse Coopers, Etude Cheuvreux and Lockton.