CBRE Advises on Purchase of Hotel Dame Des Arts in Paris
Global real estate advisor, CBRE, has advised on the purchase of Hotel Dame Des Arts in Saint Germain-des-Pres, Paris on behalf of Sono Hospitality BV, the European arm of Sono International from Korea, for an undisclosed price.
The 109-bed upscale hotel opened its doors in early 2023 following an extensive renovation. It has since achieved a number of accolades including the Conde Nast top 20 hotels in Paris Readers’ Choice Awards last year.
The hotel benefits from a 360-degree rooftop, offering unobstructed views of the most iconic landmarks of Paris including the Eiffel Tower and the Pantheon, and is within walking distance of the Notre Dame de Paris Cathedral and Louvre Museum.
CBRE has a track record advising clients across Europe and Asia on the global hospitality market, and we’re delighted to have worked with Sono on their much-anticipated European debut.
The Paris hotel market performed well in 2023 and is known for its resilience and high barriers to entry. Europe as a whole has maintained its status as a favoured destination for travellers worldwide, particularly in key tourism and gateway cities such as Paris. The Summer Olympics will see tourism in Paris gain further momentum, and we expect this to be reflected in hotel demand levels for the rest of the year.