The LAGRANGE group, one of the leaders in the top-of-the-range tourist residences industry, is pleased to announce the acquisition of a majority stake in the CERISE Hôtels et Résidences group, which operates 14 establishments throughout France. This acquisition is the fruit of a vision shared by the management of both groups, and is part of a common desire to strengthen their market position. It will enable both groups to accelerate their growth and development.
The activities of CERISE Hôtels et Résidences, which is specialized in Apart’Hôtels residences, complete those of LAGRANGE, which has a strong presence in seaside and mountain resorts, with over 120 sites in operation. Pierre-Olivier Toumieux comments: “In addition to the traditional business activity, the Apart’Hôtels are increasingly meeting the demand for short tourist stays, and offer the advantage of very constant activity throughout the year, which allow to free oneself from the usual seasonality of tourist sites. In this market segment, Groupe CERISE’s sites are the perfect complement to our current range.”
The synergies identified between the two groups will enable the CERISE Hotels and Residences group to further increase its profitability in the very short term, and to accelerate the development of new projects already identified by this group.
Pierre-Olivier Toumieux commented: “Discussions with the CERISE group have intensified since last September as part of our strategy to consolidate the sector. Despite the challenges posed by the Covid-19 pandemic, the CERISE Hotels and Residences group, chaired by Yannick Auré, has shown remarkable resilience and has managed to get through this difficult period.”
Yannick Auré is keen to point out that “this gradual transfer is taking place in a harmonious manner and is enabling the synergies sought by the CERISE Group to be put in place; this merger is accelerating development and facilitating the implementation of new projects thanks to the support and backing of the LAGRANGE Group’s teams”.
Pierre-Olivier Toumieux adds: “This operation, initiated before COVID, is part of our ongoing consolidation strategy, with the aim of achieving a balance between the “sea”, “mountains” and “city” clusters. I would like to underline the excellence of the Carmine team, whose responsiveness and efficiency were faultless throughout this process.”
Since 2022, the Apart’Hôtels residences business has regained its “pre-sanitary crisis” dynamism, and remains a strategic element for the LAGRANGE Group.
Both the LAGRANGE and CERISE groups are active and recognized members of the Fédération Nationale des Résidences de Tourisme et Villages de Vacances.
For more information on this acquisition, please contact: Cécile Jonnard, Paul Tagliero and Anne-Laure Saint-Marc Girardin.
