{"id":588694,"date":"2026-09-10T14:04:41","date_gmt":"2026-09-10T12:04:41","guid":{"rendered":"https:\/\/www.nicolson.fr\/?page_id=588694"},"modified":"2026-09-11T00:00:32","modified_gmt":"2026-09-10T22:00:32","slug":"hospitality","status":"publish","type":"page","link":"https:\/\/www.nicolson.fr\/en\/hospitality\/","title":{"rendered":"Hospitality"},"content":{"rendered":"\t\t
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\n\t\t\t\tHOSPITALITY INVESTMENT<\/b>
\n\nFrom real estate opportunity to hospitality investment\n\t\t\t<\/p>\n\t\t\t\t\t\t\t

\n\t\t\t\t\t\t\t\t\t\t\tAntoine VERDET<\/cite>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t
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Search \u00b7 Real Estate Analysis \u00b7 Intermediation \u00b7 Negotiation \u00b7 Expert Coordination\n\n<\/h2>\n \n <\/div>\n \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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\u00a0<\/h2>

Acquiring a hotel, serviced residence or developing a hospitality project is about far more than purchasing a property.<\/p>

It means investing in a real estate asset, a location, an operating business and a potential source of long-term value creation.<\/strong><\/p>

For private investors, entrepreneurs and family offices, hospitality can offer an attractive combination of real estate ownership, operating returns, capital appreciation and, when appropriately structured, significant tax and estate-planning opportunities.<\/strong><\/p>

NICOLSON advises investors on the sourcing and acquisition of hospitality assets, primarily in Paris and the South of France.<\/p>

Our role is to identify the opportunity, analyse it, lead the commercial negotiation and advise the investor throughout the transaction<\/strong>, bringing together the specialist expertise required to make an informed decision.<\/p>

One transaction. Multiple areas of expertise. One real estate and commercial adviser.<\/strong><\/p>

1\/ A real estate and entrepreneurial approach<\/h2>

A hospitality asset must be considered simultaneously as real estate and as a business.<\/p>

Location, land, buildings, capacity, regulation, renovation, concept, operations, revenue, profitability and repositioning potential all contribute to its value.<\/p>

Acquiring the freehold and the business. Taking over an existing operation. Converting a property. Repositioning an established hotel. Developing a serviced or para-hospitality concept.<\/p>

Each situation requires a different approach.<\/p>

Our first task is to understand where the opportunity truly lies before structuring the transaction.<\/strong><\/p>

2\/ Returns, value creation and long-term ownership<\/h2>

Hospitality offers something that traditional residential real estate does not always provide: the ability to create value simultaneously through the property and through its operation.<\/strong><\/p>

A well-acquired and well-positioned asset can generate operating income while benefiting from improvements to the property, repositioning, renovation, increased capacity or the development of a stronger hospitality concept.<\/p>

For an entrepreneur or family office, this can provide an attractive combination of yield, tangible asset ownership and long-term capital value.<\/strong><\/p>

The investment case should therefore be assessed not only on today’s performance, but on what the asset and its operation could become.<\/p>

The objective is not simply to acquire an income-producing property. It is to identify and unlock its potential for value creation.<\/strong><\/p>

3\/ A potentially attractive tax and estate-planning environment<\/h2>

Depending on the asset, operating model, ownership structure and the investor\u2019s personal circumstances, hospitality investments may also benefit from particularly attractive tax treatment compared with conventional residential property ownership.<\/strong><\/p>

The operating nature of the activity can create opportunities in relation to VAT, depreciation, deductible expenditure and the taxation of income and capital gains.<\/p>

The appropriate ownership and operating structure may also have important consequences for long-term wealth planning and the eventual transfer of the asset to the next generation.<\/strong><\/p>

For entrepreneurs who have recently sold a business, certain investment structures may also form part of a broader reinvestment or wealth-planning strategy.<\/p>

These considerations must naturally be assessed on a case-by-case basis with the investor\u2019s tax, legal and wealth advisers.<\/p>

NICOLSON\u2019s role is to identify these issues early enough in the acquisition process for the appropriate specialists to analyse them before the investment structure is finalised.<\/strong><\/p>

Performance should be considered throughout the investment cycle: acquisition, operation, ownership, disposal and ultimately transmission.<\/strong><\/p>

4\/ Sourcing & Off-Market<\/h2>

The most interesting hospitality opportunities are not always publicly marketed.<\/p>

Our presence in Paris and the South of France, combined with our real estate, entrepreneurial and wealth-management network, enables us to identify assets through owners, operators and market professionals.<\/p>

We can also conduct a targeted search based on an investment thesis<\/strong> agreed with the client: geography, asset size, number of rooms, positioning, budget, operating model, target returns and value-creation potential.<\/p>

Our search is never restricted to assets directly represented by NICOLSON.<\/p>

We collaborate with other agents and specialist professionals whenever they control the right opportunity.<\/p>

Our objective is not to sell an asset. It is to identify the asset that fits the investor\u2019s strategy.<\/strong><\/p>

5\/ Analysis before acquisition<\/h2>

A hospitality opportunity needs to be assessed beyond its asking price.<\/p>

We undertake an initial real estate and commercial analysis to understand the fundamentals of the opportunity: location, property, existing operation, required capital expenditure, potential, competitive environment and repositioning opportunities.<\/p>

This first analysis identifies the questions that require further investigation and the specialist expertise needed before committing capital.<\/p>

The objective is to transform an opportunity into a documented investment decision.<\/strong><\/p>

6\/ Structuring and leading the negotiation<\/h2>

In a hospitality acquisition, negotiation is never solely about price.<\/p>

The scope of the transaction, freehold, business assets, operating company, furniture and equipment, capital expenditure, warranties, conditions precedent, exclusivity and timing can materially affect the economics of the investment.<\/p>

NICOLSON assists the investor in structuring the offer and leads the commercial discussions with the owner or their representatives.<\/p>

As an intermediary, our position enables us to understand both parties, identify potential obstacles and maintain a constructive dialogue throughout the process.<\/p>

Negotiation means protecting our client\u2019s objectives while creating the conditions necessary to complete the right transaction.<\/strong><\/p>

7\/ Coordinating due diligence<\/h2>

Once the principal commercial terms have been agreed, a critical phase begins: testing the assumptions on which the investment is based.<\/p>

NICOLSON works with the client to identify the issues requiring investigation and facilitates the involvement of the appropriate specialists:<\/p>

Lawyers & Notaries<\/strong>
Legal structure, title, contracts and transaction documentation.<\/p>

Accountants & Financial Advisers<\/strong>
Historical performance, operating results and business plan.<\/p>

Architects & Technical Consultants<\/strong>
Buildings, capital expenditure, regulatory requirements and development potential.<\/p>

Hospitality Consultants & Operators<\/strong>
Concept, positioning, operational model and future performance.<\/p>

Tax, Private Banking & Wealth Advisers<\/strong>
Investment structuring, financing, taxation and long-term wealth considerations.<\/p>

Each professional naturally remains responsible for their own analysis and advice.<\/p>

NICOLSON retains the overall real estate and commercial perspective, facilitates the exchange of information and ensures that the findings can inform both the investment decision and, where appropriate, the negotiation.<\/strong><\/p>

8\/ Allowing the transaction to evolve<\/h2>

Due diligence is not simply about confirming an acquisition.<\/p>

It may reveal additional capital expenditure, regulatory constraints, different operating performance or previously unidentified opportunities for value creation.<\/p>

These findings can materially change the economics of the project.<\/p>

NICOLSON helps the investor understand their real estate and commercial implications and, when necessary, reopens negotiations or revises the terms of the transaction.<\/strong><\/p>

Proceed. Renegotiate. Restructure \u2014 or walk away.<\/p>

Advisory also means preserving the freedom not to complete a transaction.<\/strong><\/p>

9\/ Thinking about operations before acquisition<\/h2>

The future value of a hospitality asset depends significantly on what happens after completion.<\/p>

We can therefore involve potential hotel operators, management companies, hospitality consultants, architects, designers, technical advisers and local specialists<\/strong> early in the acquisition process.<\/p>

For investors who do not intend to operate the hotel themselves, the identification of an operator or management partner can begin before the acquisition is completed.<\/p>

This allows the investment thesis to be tested against the realities of future operations, capital expenditure and implementation.<\/p>

We think about what comes after the acquisition before completing the acquisition itself.<\/strong><\/p>

10\/ For entrepreneurs & family offices<\/h2>

For an entrepreneur who has sold a business, hospitality can represent much more than real estate diversification.<\/p>

It offers the opportunity to reinvest entrepreneurial experience and capital into a tangible asset, an operating business and a long-term wealth project.<\/strong><\/p>

It can provide income and value-creation potential while allowing the investor to develop a concept, create a brand, become involved in a destination and ultimately build an asset that may be held and transferred over generations.<\/p>

Yet entering hospitality also means entering a new ecosystem: real estate, operations, regulation, financing, architecture, food & beverage, staffing, distribution and guest experience.<\/p>

The investor does not need to become an expert in each of these disciplines.<\/p>

NICOLSON advises on the real estate and transaction while helping to bring the right expertise around the table.<\/strong><\/p>

Entrepreneurial hospitality investment, without having to undertake it alone.<\/strong><\/p>

11\/ Continuous involvement, from opportunity to closing<\/h2>

Our value also lies in the continuity of our involvement.<\/p>

SEARCH<\/strong>
Identify the asset, approach owners and access opportunities.<\/p>

ANALYSIS<\/strong>
Understand the real estate, existing operation, economics and potential.<\/p>

NEGOTIATION<\/strong>
Structure the offer and lead commercial negotiations.<\/p>

DUE DILIGENCE<\/strong>
Bring together specialist advisers, facilitate information and coordinate the process.<\/p>

STRUCTURING<\/strong>
Ensure legal, financial, tax and wealth considerations are identified and addressed by the appropriate advisers.<\/p>

PROJECT<\/strong>
Test the acquisition against its future concept and operating model.<\/p>

RENEGOTIATION<\/strong>
Integrate due diligence findings and, where necessary, revise the commercial terms.<\/p>

CLOSING<\/strong>
Maintain dialogue between the parties and support the transaction through completion.<\/p>

NICOLSON \u2014 Real Estate Advisory & Commercial Intermediation<\/strong><\/p>

12\/ Experience across hospitality transactions<\/h2>

Our approach is built on assignments in which NICOLSON acts as real estate adviser and commercial intermediary<\/strong>, maintaining its involvement from the identification of the opportunity through to completion.<\/p>

Hotel acquisition \u2014 Mediterranean Coast<\/h3>

Buyer advisory<\/strong><\/p>

Identification of the opportunity and initial approach to the owner. Preliminary analysis of the asset and assistance to the investor in defining the acquisition project.<\/p>

NICOLSON leads commercial discussions and negotiations, gathers the information required to assess the transaction and facilitates the involvement of the client\u2019s legal, financial, technical and operational advisers.<\/p>

The conclusions of these different workstreams are incorporated into the investment analysis and, where appropriate, into the negotiation of the final acquisition terms.<\/p>

Sourcing \u00b7 Advisory \u00b7 Intermediation \u00b7 Negotiation \u00b7 Due Diligence Coordination \u00b7 Closing<\/strong><\/p>

Hotel repositioning \u2014 Provence<\/h3>

Investor advisory<\/strong><\/p>

Analysis of an existing hospitality asset offering repositioning potential, with particular attention to the relationship between the real estate, hospitality concept, required investment and future operating model.<\/p>

NICOLSON facilitates discussions with the specialists required to assess the project, including hospitality professionals, architects, potential operators and the investor\u2019s own advisers.<\/p>

This enables the acquisition assumptions to be tested against the realities of the future project before a final commitment is made.<\/p>

Analysis \u00b7 Advisory \u00b7 Project Team \u00b7 Intermediation \u00b7 Negotiation<\/strong><\/p>

Serviced hospitality project \u2014 South of France<\/h3>

Search & acquisition advisory<\/strong><\/p>

Search for an asset suitable for the development of a serviced hospitality project and assessment of its real estate potential.<\/p>

NICOLSON assists the investor with the search, owner approach, commercial negotiation and identification of the principal issues requiring further investigation.<\/p>

Specialist matters are entrusted to the relevant professionals and their conclusions incorporated into the acquisition decision.<\/p>

Search \u00b7 Real Estate Analysis \u00b7 Intermediation \u00b7 Negotiation \u00b7 Expert Coordination<\/strong><\/p>

A clearly defined role<\/h2>

NICOLSON does not seek to replace the architect, lawyer, accountant, hotel operator, tax adviser or financial adviser.<\/p>

Our expertise is to understand the real estate opportunity, lead its commercial intermediation and retain an overall view of the transaction throughout the acquisition process.<\/strong><\/p>

We identify the questions that need to be answered, bring together the professionals capable of answering them and integrate their conclusions into the real estate strategy and negotiation.<\/p>

This continuity gives the investor one committed real estate and commercial adviser from the first conversation with the owner through to closing.<\/strong><\/p>

HOSPITALITY ADVISORY<\/h1>

You know how to build businesses. We help you invest in a new one.<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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