#Paris #France #Luxury Hotels #L Catterton #Cedar Capital

L Catterton and Cedar Capital Partners Launch Luxury Hospitality Platform

In a significant move to capture the growing luxury travel market, L Catterton Real Estate (LCRE) and Cedar Capital Partners have officially announced a groundbreaking joint venture. This new partnership aims to create a premier platform for luxury hospitality across Europe and North America. As part of this initiative, the companies will focus on the acquisition, transformation, and repositioning of iconic five-star hotels in coveted urban and resort settings.

The Vision for Luxury Hospitality

This strategic venture comes in response to the robust growth in global luxury travel, paired with a significant supply-demand gap within the high-end hospitality sector. The joint venture is set to compile a curated portfolio consisting of 10 to 15 landmark hospitality assets, focusing on unique properties that promise exceptional guest experiences.

Mathieu Le Bozec, the Managing Partner and Founder of L Catterton Real Estate, expressed enthusiasm about the collaboration: "We see a compelling opportunity to build a differentiated luxury hospitality platform by combining our deep consumer insight and real estate capabilities with Cedar's sector expertise. This partnership is well positioned to capitalize on strong tailwinds in global luxury travel and create significant long-term value through the repositioning of iconic assets in highly sought-after destinations."

Initial Acquisitions in Focus

To kick off their venture, the partnership has successfully acquired two iconic hotels:

1. Garden Beach Hotel - This stunning beachfront property boasts 177 keys and is situated in Juan-les-Pins, a charming town in Antibes along the French Riviera. Although currently closed, it presents a unique opportunity for seafront repositioning and is poised to become a flagship luxury destination in the region.

2. Penha Longa Resort - A Ritz-Carlton property, this renowned 204-key luxury resort lies within the picturesque Sintra-Cascais Natural Park, just 25 minutes from Lisbon Airport. Spanning a sprawling 220-hectare estate, it boasts top-tier amenities, including two championship golf courses, award-winning dining options, and a luxurious spa.

A Promising Future

The collaborative approach of L Catterton and Cedar Capital is geared towards unlocking the full potential of these unique properties, ensuring they deliver exceptional guest experiences. Ramsey Mankarious, Founder and CEO of Cedar, commented on this impeccable synergy: "We are excited to partner with L Catterton Real Estate to pursue a targeted and scalable strategy in the luxury hospitality sector. With a shared vision and complementary expertise, we believe this platform will enable us to unlock the full potential of unique properties and deliver exceptional experiences for guests in key destinations across Europe and the United States."

About the Companies

L Catterton is recognized as a leading consumer-focused investment firm managing approximately $40 billion in equity capital across multiple sectors, including private equity, credit, and real estate. With a rich history of investments focused on consumer businesses, their expertise also extends to landmark hospitality destinations and mixed-use real estate development.

Cedar Capital Partners, founded in 2004, has emerged as a key player in the hospitality investment realm, specializing in luxury and lifestyle hotels. The firm has invested over $5 billion globally and has built a reputation for delivering consistent performance and value creation across various economic cycles.

As both firms embark on this collaborative journey, the luxury hotel landscape in Europe and North America looks set for a transformation that promises not just growth, but a reimagined experience for travelers around the globe.