Adagio to manage Hipark Design Suites portfolio

George Sell By George Sell
15 January 2018 | Updated 15 January 2018

France: BNP Paribas Real Estate has appointed Aparthotels Adagio to manage its five Hipark Design Suites properties.

Starting on the 1st of February 2018, Adagio will manage the properties in Paris, Serris-Val d'Europe, Grenoble, Nice and Marseille. They will then operate under the "Hipark by Adagio" brand name.

The properties, which were launched by the BNP Paribas Real Estate Group in 2010, are located in city centres, and are primarily positioned within the upscale business tourism segment.

With around 700 apartments, Hipark Design Suites welcomed nearly 330,000 customers over 2017. A range of different services are available, corresponding to both short and long stays expectations: concierge services, a business corner, a gym, a self-service laundry, a fully-equipped kitchen in every apartment, etc.

BNP Paribas Real Estate and Adagio say they plan to "strengthen the positioning of Hipark Design Suites residences as one of the key players in business tourism, and they intend to grasp the development opportunities on offer in France and Europe".

"In our view it was a logical move to entrust the management of our five residences to a professional in the para-hotel sector - a company that is recognised within its own market and that we can work with to develop the potential of the Hipark brand. We chose the Pierre & Vacances-Center Parcs Group & AccorHotels on account of their in-depth knowledge of the serviced apartments segment. Within their Adagio brand aparthotels ranges, we identified a number of prestige-related criteria matching those we apply ourselves, and insist on within our own residences," said Olivier Bokobza, managing director of BNP Paribas Real Estate Residential division.

Karim Malak, deputy CEO of Aparthotels Adagio, said: "The signing of this agreement with BNP Paribas Real Estate will reinforce our leadership in France and open up prospects for future developments in France and in Europe. This partnership bears witness to the expertise of our brand, in the areas of management, marketing and revenue management. This operation will benefit both partners. We are delighted to welcome the HiPark Design Suites staff teams on board at Adagio."

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