Paris, February 26, 2026,
The somnOO group announces the completion of the acquisition of 123 Investment Managers' stakes in six hotels already operated by somnOO. This transaction marks a significant step in the consolidation of its portfolio: these establishments, previously held as minority interests, are now majority-owned by somnOO, including both buildings and funds.
This move is part of the structured partnership model between the two players. Based on transparency, predictability, and shared value creation, this partnership has enabled 123IM to support the development of the establishments alongside the somnOO teams, particularly in structuring operations, financial optimization, and defining growth trajectories.
The transaction now enables 123IM to realize the value created, while offering somnOO full strategic control of these assets to pursue their long-term development.
The six establishments concerned benefit from strategic locations, identified development potential, and teams that are already well integrated into the somnOO model:
Since the beginning, somnOO and 123 IM have built a relationship based on closely aligned interests, active governance, and a shared strategic vision. This transaction is consistent with that model: somnOO is honoring its liquidity commitments as originally defined, and mutual trust continues to characterize the relationship between the two parties, as it has for many years.
Lars Backhaus and Christian Rousseau, founders of somnOO, say:
"This acquisition underscores the continuity of our two-cycle owner-operator strategy. The six hotels are now under our full responsibility, enabling us to consolidate our hotel portfolio in a sustainable manner. This transaction marks a successful collaboration with 123 IM, based on clarity, trust, and results. "
Pierre Dupuy-Chaignaud, member of the executive board and associate director of 123 IM, confirms:
“We are proud to have supported somnOO in this phase of development and consolidation. This transaction is the logical outcome of a strategy designed from the outset to support an operator through a complete cycle of value creation: acquisition, development, optimization, consolidation, and exit. It reflects the quality of the work carried out jointly and the trust built up over the years.”
We would like to thank the partners involved in making this success possible:
Founded in Paris in 2001, 123 Investment Managers is a diversified platform specializing in unlisted assets for private and institutional investors. Through five subsidiaries dedicated respectively to financing French mid-caps/SMEs, energy transition, yield-driven real estate, tax-efficient assets in French overseas territories, and multi-management, the group has accumulated more than €4.5 billion in unlisted assets since its creation. With more than 90 employees offering complementary expertise, 123 IM provides a comprehensive solution tailored to the needs of every investor.
Founded in 2014, somnOO owns and operates a portfolio of over 60 hotels in France and Germany. Its European “owner & operator” strategy is structured around two cycles: cycle 1 as an operator and minority shareholder, and cycle 2 as an “owner-operator” with full ownership. This positioning—combining property ownership and operational control—ensures resilience, alignment of interests, and long-term value creation.