Extendam has acquired the Mercure Nice Centre Notre-Dame hotel, partnering with Amante Capital to enhance the property through significant renovations and repositioning in the upscale market.

Information on the Target

Extendam has announced the acquisition of the Mercure Nice Centre Notre-Dame, a four-star hotel boasting 198 rooms, strategically located in the heart of Nice, Côte d'Azur. This transaction marks the initial partnership between Extendam and Amante Capital, a company specializing in the acquisition and management of hotel assets across Europe. The acquisition adds to Extendam's extensive experience in the Nice hotel market, where they have successfully completed 12 hotel transactions, including three currently in their portfolio.

This acquisition reinforces Extendam's historic presence in a territory they are well acquainted with, where they foresee significant opportunities for value creation. The transaction was supported by Inextenso, Ideact Avocats, and Soussan & Soussan, and is financed by La Banque Postale.

Industry Overview in the Specific Country

As the second-largest city in the Provence-Alpes Côte d'Azur region, Nice is a leading hotel market with 162 hotels that collectively offer over 10,000 rooms. Currently, the city accounts for 40% of the tourism flows along the Côte d'Azur, ranking as the second most p