The Primonial Group's real estate unit signs a strategic hotel partnership with Dominique Ozanne

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The Primonial Group's real estate unit signs a strategic hotel partnership with Dominique Ozanne

The Primonial real estate unit announced the signing of a strategic partnership today. It covers advisory services for the future acquisition of hotel assets in Europe and support for the management of hotel assets already held by the funds managed by the Primonial Group valued at approximately €900 million.

As part of its strategy to diversify its asset allocation, the Primonial Group’s real estate unit has ambitious plans for its growth in the hotel segment. The goals are comparable to the Primonial Group’s investments in healthcare properties where it has been a pioneer and is now the leading European asset manager with over €9 billion in assets under management.

To achieve its goals, the Primonial Group has chosen to surround itself with partners who have leading expertise in the hotel asset class. As part of the new partnership, the Primonial Group's investments in hotels will be made via the specialised company Hova Hospitality created and managed by Dominique Ozanne, Chairman, and Gaël Le Lay, Deputy Chief Executive Officer.

Dominique Ozanne has over 18 years of experience in the hotel sector. He was previously the Chief Executive Officer of Covivio Hotels. He created, managed and grew the listed company, which has become the leader in hotel investment in Europe. Gaël Le Lay was appointed Deputy Chief Executive Officer of Covivio Hotels in 2013 after contributing to the launch of the hotel investment business at AXA Real Estate and spending eleven years with the Accor Group. Between them, Dominique Ozanne and Gaël Le Lay have carried out over €13 billion in hotel acquisitions.

Laurent Fléchet, Chief Operating Officer of the Primonial Group, said: “We have ambitious plans for the hotel sector. We want to become the leading player in this asset class in Europe, replicating our position in healthcare real estate. We’re very happy to sign a partnership agreement with Dominique Ozanne whose skill and performance history in the hotel sector in Europe are unanimously recognised. I’m convinced that the partnership will be key to our future success in the sector in Europe by capitalising on our respective know-how and by leveraging our synergies.

Dominique Ozanne, Founder and Chairman of HOVA Hospitality, stated that: “The Primonial Group has been one of the most dynamic players in real estate investing in Europe over the past ten years. We’re delighted with this first partnership with the Primonial Group’s talented teams because we share the same entrepreneurial culture focused on growth. With the recovery in the hotel sector, we’re convinced that the time is right to invest in this exciting sector which has strong fundamentals and a promising outlook.

About the Primonial group

Primonial is a leading independent wealth and asset management group offering a full range of open architecture investment solutions across a broad spectrum of asset classes. The Primonial group is mainly active in the areas of life insurance, asset management and property, where its investment teams have established a strong reputation for their expertise.

With more than €50 billion in assets under management or advisory management, the Primonial group’s presence in a number of countries confirms its European scope.

Primonial group key figures as at 31.12.2020:

Gross new money inflows: €10.2 billion

Assets under management and advisory management: €50.7 billion

Workforce: 1,032 employees


About HOVA Hospitality:

A company specialising in hotels, short- and medium-length stays and tourism.
Founder Chairman: Dominique Ozanne
Education: ESTP/HEC Master's
Created, developed and managed Covivio Hotels - a listed company (on the SBF 120) - for 14 years
Nearly €9 billion in transactions completed in the hotel sector
Pierre d’Or du Manager 2020 award, Asset Manager 2015 award and Prix du meilleur partenariat hôtelier award 2016 (MKG)
Deputy Chief Executive Officer: Gaël Le Lay
Education: HEC Executive MBA
Nearly €4 billion in transactions completed
Former manager of hotel funds at AXA and investments manager at Accor.

Hova Hospitality contacts:

Dominique Ozanne, Founder Chairman │+33 6 73 51 06 17 │

PRIMONIAL REIM press contacts

Véronica Basallo-Rossignol Europe Marketing & Communication Director

Agence de presse <br>Edelman
Edelman France for Primonial REIM PR agency
07 77 96 24 42