Imagine this: a stunning five-story building, boasting a graceful balcony and elegant white wooden shutters, nestled on the fashionable Avenue de Lowendal in Paris’s affluent 7th arrondissement. This could easily be mistaken for a traditional apartment building, and indeed, it was until recently. But now, it’s home to a unique and discreet hotel called La Sève.
What makes La Sève different? There’s no grand reception desk and no flashy sign outside, giving it a quiet, intimate feel. Inside, each floor is adorned with luxurious hotel apartments, carefully decorated and overseen by a dedicated hostess. These apartments, featuring three or four bedrooms, can be booked for around €1,500 per night on well-known sites like Booking.com or Airbnb. But if you prefer a more affordable option, you can rent a room with its own bathroom for about €300 and share the living room and kitchen with fellow travelers. The attentive staff handles cleaning, serves breakfast, and can even arrange for a private chef upon request.
A New Era of Parisian Hospitality
Behind this innovative hotel concept is Guillaume Lange, a Parisian financier who manages a family office. Lange, a former partner at Accenture with a vast network of connections, could have chosen to invest in traditional real estate. Instead, he boldly opted for the riskier but more lucrative apartment hotel market, experiencing explosive growth in Paris.
Beyond La Sève, Lange, alongside investors, has acquired three additional buildings in Paris’s 8th, 12th, and 13th arrondissements. All of these properties are being developed under the same concept, unified under the brand 1.75. The combined investment for these four acquisitions surpasses €50 million, with more acquisitions on the horizon.
A New Breed of Hotel Experiences
Lange isn’t alone in embracing the “apartment hotel” niche. Traditional players like Citadines, Adagio, and Appart’City have long offered standardized, less expensive options. However, a wave of new entrants, including Edgar Suites, 1.75, Madeho, Groupe WS, My Maison in Paris, Black Door, Sweet Inn, and HighStay, are shaking up the scene. These newcomers are redefining the genre with luxurious accommodations, trendy decor, and personalized services.
This new wave of hotels is responding to a shift in traveler preferences. People are seeking accommodations that offer kitchens and living rooms, creating a more homey atmosphere. “These concepts are perfect for families, business travelers, and groups of friends,” explains Vanguelis Panayotis, a hotel consultant at MKG. He adds, “In our increasingly flexible world, we can work and be on vacation in the same place, and these hybrid products cater perfectly to this.”
A New Approach to Hotel Ownership
Unlike the traditional model of apartment hotels, where individual units were sold with tax incentives and overseen by property managers, these new players are acquiring entire buildings. They may be former office spaces, hotels, or residential buildings. When converting residential buildings, however, there are certain complexities. Owners must compensate for the loss of residential space by purchasing “marketing rights,” which are used to create new housing in the same neighborhood.
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