German open-ended fund manager Difa is in talks to buy the Marriott Champs Elysées hotel in Paris from US opportunity fund Strategic Hotel Capital.
Difa executive director Frank Billand said: “We plan to increase our hotel exposure from 8% to between 12% and 13%.”
Difa attracted €4.3bn to its funds last year and so far this year has gained a further €1.5m. Although it is still mainly a domestic investor, it is waiting for clearance from German financial authorities to take 50% of its investment elsewhere on the Continent, including central Europe.
