2024-03-04 16:39:23
The establishments concerned are the Grand Hôtel de Bordeaux, currently operated by the InterContinental group, the Sheraton hotel at Roissy-Charles-de-Gaulle airport and the Trianon Palace in Versailles, operated by Waldorf Astoria (Hilton group).
Valued at more than 500 million euros in total, the buildings are held by Financière Immobilier Bordeaux (FIB), Michel Ohayon’s holding company, via subsidiaries which had been placed in receivership at the end of January 2023.
As the commercial court recalls in its decisions dated February 28, the development of the FIB hotel division was mainly thanks to the financial support of Bank of China, from which three loans were taken out between 2014 and 2017 for a total of 201 million euros.
The repayment of these loans failed while the FIB, itself placed in recovery, encountered significant financial difficulties which it explained by the consequences of the health crisis on its real estate income.
Bank of China refused the plan
These came from the hotel industry but also from commercial brands (Camaïeu, since liquidated; Go Sport and Gap, sold; as well as around twenty Galeries Lafayette stores, placed in safeguard procedure from which they might exit at the end of the month). Bank of China, which demanded the liquidation of the subsidiaries that own the three hotels, refused the business continuation plan presented by Michel Ohayon.
Contacted via one of its councils, the FIB did not wish to comment. The holding company remains placed in receivership, the commercial court having recently extended, for the second time, its observation period for a period of six months.
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