Fairway advised JCDecaux Holding in its acquisition of a significant stake, alongside the City of Biarritz (64), in the Hotel du Palais, one of the only luxury hotels along the Atlantic coast, and in the negotiation of a management contract with the new operator of the hotel, Hyatt Hotels Corporation, under the Unbound Collection by Hyatt brand.
In addition to this equity contribution, Socomix, the semi-public company owning the hotel, signed up a € 50 million loan from a banking pool made up of Crédit Agricole CIB (Cacib), CA Pyrénées- Gascogne and La Banque Postale.
This financing will enable the Hôtel du Palais of Biarritz to enter a heavy phase of rehabilitation that should last a little less than two years, with a reopening scheduled in two stages, for the summers 2019 (during the G7 summit) and 2020 (total reopening).