The Côte d’Azur Tourism Fund supports the Hotel Cannes Center Univers in its renovation

The Côte d’Azur Tourism Fund [1] accompanies the Hotel Cannes Center Univers in its last phase of renovation to allow its affiliation with a famous hotel brand

Battered for 2 years, like its colleagues in the sector, by an unprecedented health crisis, the Cannes Center Univers hotel had not been able to complete its complete renovation program of the 6 floors of rooms, the lobby and the circulation areas. started in 2018.

The amount financed by the Fonds Tourisme Côte d’Azur is €500K for almost €700K of consolidated investment corresponding to the comprehensive renovation of 2 floors, that is, 22 rooms and common areas.

Ideally located in the center of Cannes, in the immediate vicinity of the Croisette, the beaches, the Palais des Festivals, the shops and the train station, the Cannes Center Univers hotel is a 4-star establishment with 68 rooms and 4 suites heated. with terrace on 6 levels, a bar and breakfast room with terrace and terrace that offers a panoramic view of the city and its surroundings, a Fitness area with sauna.

The Cannes Center Univers hotel, like the other hotels in the LONGITUDE group, has been well aware of CSR issues for a long time. Among the measures that are taken on a daily basis, we highlight the systematic non-renewal of bath linen, the installation of aerators in taps and toilets to limit water consumption, the installation of low-consumption light bulbs, the elimination of plastic straws, the classification of waste but also the maximum selection of regional producers and seasonal products, the training of staff in relation to occupational medicine in gestures and postures to reconcile the well-being of employees and the improvement of working conditions.

Eager to formalize a sustainable tourism approach, the hotels of the LONGITUDE group applied in September 2021 for the European tourism program that offers free support for one year and participation in 4 training workshops and 2 international seminars to establish a series of good practices in the 3 aspects of CSR, environmental, social and corporate and eventually point to EMAS, green key or European ECO label certification.

Regarding the operator:

LONGITUDE HOTELS operates 8 3 and 4* hotels in France, 5 of which are its own and 3 under management contract. In addition to the Cannes Center Univers hotel, LONGITUDE HOTELS operates the Best Western International in Annecy (3*), the Château de Sancy, the Ibis Styles in Annemasse-Genève (3*), the Best Western Hôtel Montcalm (3*) and the Classics Hôtel Bastille (3*) in Paris, the Mercure Bayonne Grand Hôtel (4*), the Château de Saint Cirq Lapopie (3*) in bed and breakfast format.

With a good track record before the crisis, a location of 1D quality in the center of Cannes and a mobilized and experienced management team, it seemed inconceivable to us that the Cannes Center Univers hotel could not carry out its renovation program started in 2018. Confirmed in our analysis by the renewed interest in the brand by a major hotel group to affiliate the hotel with a renowned brand after work, we implemented flexible financing tools that allow the hotel to smoothly complete its renewal program without immediately increasing its reimbursement chargesays Olivier Besançon Business Manager of the Côte d’Azur Tourism Fund.About M Capital

M Capital Private Debt, a department specialized in financing the economy of presence (leisure, accommodation, restaurants and services) and territories, is developing a unique investment model that uses mixed capital (public and private) to invest in private or public companies that participate in the creation of new growing, resilient and inclusive economies.
In 2021, M Capital Private Debt launched the PEPS (Positive and Societal Engagement Loan), a loan:

  • With a positive impact both at an environmental and social level. ;
  • Whose cost of financing decreases the more virtuous the company is ;
  • And that allows entrepreneurs to benefit from personalized support with a view to improving the extra-economic performance of their companies.

M Capital Private Debt is the private debt department of M Capital Partners, approved by the Autorité des Marchés Financiers (AMF). The company manages more than €580 million in assets on behalf of savers, family offices and public and private institutional investors, including the BPCE and Crédit Agricole groups, the European Investment Bank and the European Development Fund.

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