Odalys Group, the number two French and European tourist residences, will open its capital up to 35% to the Chinese group Hywin.
Odalys has a total of 377 managed residences (sea, mountain, city and countryside) mainly in France but also in Italy and Spain, for a total of 126,000 beds. Its residences welcomed 2.3 million holidaymakers in 2015.
The Chinese group will enable CTI to consolidate its presence on the Asian continent and to intensify its commercial relations with an industrial visibility of several decades.
Eric Duval, founder of the Financière Duval group, which owns 85% of Odalys, told AFP that, in addition to the equity investment, a joint venture will be created in China “to develop the economic model of Odalys on the Chinese territory, with, for us, a 35% stake in this joint venture”.
Odalys has wanted to find growth drivers for several years. The Chinese market is really interesting”, explained Eric Duval, “The Chinese are going on more and more holidays in their country and the infrastructure is not quite in place yet. The economic model of Odalys has its place”.
For more information :
LeFigaro.fr 20 juin 2016
l’Echo touristique 21 juin 2016