In July 2024, somnOO has acquired three hotels under the Mercure brand in Germany by buying out the shares of its long-standing partner-investors 123IM and Extendam. The three 4-star hotels have a combined total of more than 450 rooms, large meeting and banqueting spaces and several F&B outlets. Despite the pandemic during the investment period (original investment in 2018) with its strong impact on the hotel and catering industry, somnOO’s management capacity has allowed to generate expected returns and liquidity in time for 123IM and Extendam.
This transaction confirms that combined investment in hotel real estate and operations has strong value creation potential - aligned interest and resilience are key value drivers.
The transaction was backed by long-standing partners, to whom all parties express their sincere gratitude:
- Sparkasse an Volme und Ruhr
- Notarkanzlei Brock Müller Ziegenbein
- Anwaltskanzlei IDEACT
- Kloppe & Partner Wirtschaftsprüfung Steuerberatung
Founded in 2014 by Lars Backhaus and Christian Rousseau, somnOO owns and operates a portfolio of more than 60 hotels in France and in Germany. SomnOO has long-term European owner and operator strategy with full ownership of real estate and operations. The positioning as owner of real estate and operations ensures resilience and aligned interests.
SomnOO’s ownership strategy is built around two cycles designed to generate long-term value and ensure alignment of interests with investors:
Founded in Paris in 2001, the 123 Investment Managers Group is a diversified platform specializing in unlisted assets for private and institutional investors. With four subsidiaries respectively dedicated to the financing of French ETIs/SMEs, energy transition, income real estate, and multi-management ; it has accumulated more than €4.5 billion in unlisted assets since its inception. The 123 IM Group, which has more than 90 employees with diverse and complementary expertise, offers a comprehensive solution tailored to each investor’s needs.
Extendam is a French independant asset management company regulated by the AMF (the French Financial Market Authority) dedicated to private and institutional investors.
Since its inception, Extendam has invested in more than 350 hotels across Europe, reprensenting a combined asset value of over €4.3 billion. Extendam partners with global operators and franchisors, white label management companies, as well as local hoteliers in order to create value for our investors through active asset management.
