US/EU: Following €350 million investment from Brookfield Asset Management, Experimental Group is looking to open around 15 hotels in the US and the UK.
Plans include the opening of between 10 and 15 hotels by 2024 along the US West Coast and New York. Four to five new hotels are slated for London and the countryside.
The group already has six hotels across Europe including Paris, Verbier, Menorca, Venice and London. Hotels in the portfolio include the Hôtel des Grands Boulevards in Paris and Henrietta Hotel in London.
Funding from Brookfield will enable the group to buy hotels whereas previously, Experimental leased the properties and paid for the renovations. The investment would effectively treble Experimental’s current portfolio.
It is reported that Experimental has already signed to buy a hotel in Ibiza, with two additional locations in Rome and Switzerland under negotiation.
With the opening of the new properties, Experimental aims to grow its workforce from 600 to 1,400.
Experimental Group said: “This fundraising also represents a strong and positive signal for the entire sector and shows that the hotel industry is going to be stronger and more dynamic than ever in the coming years.”
Founded in 2007 by Romée de Goriainoff, Pierre-Charles Cros and Olivier Bon, Experimental Group launched its first site Experimental Cocktail Club Paris. In 2010, Xavier Padovani joined when Experimental Cocktail Club in London’s Chinatown opened.