Former Hôtel Saint-James & Albany
Investment marks the latest luxury venture by the strategic partnership between Mohari and Omnam, and the first co-investment with Williams
LONDON, Oct. 16, 2024 — Mohari Hospitality (“Mohari”) and Omnam Investment Group (“Omnam”), along with Paris-based entrepreneur, musician and philanthropist Pharrell Williams, today announced the acquisition of an iconic historical property situated in the prestigious 1st arrondissement of Paris, on the right bank of The Seine.
Formerly known as the Hôtel Saint-James & Albany, this trophy asset marks the latest acquisition by the Mohari and Omnam strategic joint venture, which was formed in July of 2022 to increase the impact of developments in luxury hospitality, food & beverage and leisure throughout Europe, harnessing the full potential and unique strengths of each group.
This rare and exceptional asset is located between Rue de Rivoli and Rue du 29 Juillet in central Paris, close to many key attractions, including the Louvre Museum, and is just in front of the Tuileries Gardens. It overlooks Rue Saint Honoré, one of the most iconic streets of Parisian fashion and luxury and is one of only a few properties to offer a privileged and unrivalled direct view of the Tuileries and the Terrasse des Feuillants.
“This project exemplifies our dedication to identifying and creating unique luxury hospitality projects that deliver unparalleled experiences in the world’s most desirable destinations,” said J. Allen Smith, CEO of Mohari Hospitality. “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 honor the property’s extraordinary romantic heritage while creating a new hotel which represents the state of the art of modern luxury hospitality.”
“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,” said David Zisser, Founder and CEO of Omnam Group. “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.”
Mohari and Omnam were advised on the acquisition by lawyers August-Debouzy, GALM and Ashurst alongside PWC. Eastdil Secured advised on the transaction and affiliates of Apollo Management International LLP acted as lenders.
