From 1.7 to 4 million EBITDA | Capital Hospitality Europe

The best asset in that portfolio was the one nobody was watching.Pierre-Louis Bellanger and Maxime des Monstiers of Capital Hospitality Europe take Luc Boschmans through the full cycle of La Perouse, a nineteen thirties boutique hotel above the Baie des Anges in Nice. The institutional owner was busy with its big boxes. It took seven letters of intent, in the middle of COVID, before they were granted exclusivity.Almost every call after that went against the instinct of the market. Rooms came out instead of going in, 56 down to 53. An F&B outlet was added instead of closed. The refurbishment ran seven months while building costs rose 30 percent, and the doors opened two days before the Monaco Grand Prix.What followed: a four star beating five stars on revenue per available room, and EBITDA that moved from roughly 1.5 to 1.7 million at acquisition to close to 4 million at the sale.The part most owners skip is how they timed that exit, and what they deliberately left on the table for the buyer.Follow The Future of Hospitality for weekly insights into hospitality, hotels, and guest experience.Disclaimer: This podcast shares stories, experiences, and opinions from hosts and guests. They are personal perspectives only and not statements of fact or official advice from The Future of Hospitality