Foncière des Murs, the hotel owner group with a portfolio of 200 hotels and a longstanding partnership with Group Accor, has finalised the sale of four economy hotels. The hotels, which total 519 rooms, were sold to private investors for a combined total of €24 million. Jones Lang LaSalle advised Fonciere des Murs.

Situated in prime downtown locations in Lille, Nantes, Montpellier and Courbevoie, they are operated under the Ibis & Etap hotel brands, with 12-year firm leases and rent indexed on the hotel revenues. The sale of these four hotels, with values close to the balance sheet value, shows the liquidity of the hotels in the Foncière des Murs assets portfolio.

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