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France: Investment firms Mohari Hospitality and Omnam Investment Group, alongside musician Pharrell Williams, have jointly acquired the former Hôtel Saint-James & Albany in Paris.
Located in the 1st Arrondissement on the bank of The Seine in Paris, the historic five-star hotel is currently closed for an “extensive and length renovation” according to its website.
The purchase marks the latest acquisition by Mohari and Omnam since the two companies launched a JV in summer 2022, targeting luxury hotels, F&B and leisure throughout Europe.
J. Allen Smith, CEO of Mohari Hospitality, said: “This project exemplifies our dedication to identifying and creating unique luxury hospitality projects that deliver unparalleled experiences in the world’s most desirable destinations. It is but the latest example of how, in partnership with Omnam, we can apply our market knowledge, operating expertise and industry insight to bring back to life an exceptional property. We intend to honour the property’s extraordinary romantic heritage while creating a new hotel which represents the state of the art of modern luxury hospitality.”
David Zisser, founder and CEO of Omnam Group, added: “We are incredibly excited to demonstrate, once again, Omnam’s expertise in creating lifetime luxury hospitality experiences with such a unique historical building in a city as storied as Paris, and in a particularly distinguished location in the city. This unique asset has been selected as the flagship of our exceptional partnership with Mohari, which has created an unparalleled, united team of visionaries, pushing the boundaries of design, guest experience and sustainable technology.”
American musician Pharrell Williams opened his first hotel in 2021 with the launch of The Goodtime Hotel in Miami. The property joined Marriott’s Tribute Portfolio in 2023.
A beach resort called Somewhere Else, located in the Bahamas, is also due to open in 2024.
