UNIBAIL-RODAMCO-WESTFIELD AND AXA IM ALTS ANNOUNCE THE SIGNING OF AN AGREEMENT WITH RADISSON HOTEL GROUP FOR THE TRIANGLE PROJECT
Radisson Blu will open a hotel in 2026 in the Triangle project, a new flagship Parisian destination
Designed by Herzog & de Meuron and developed by Unibail-Rodamco-Westfield and AXA IM Alts, acting on behalf of clients, The Triangle will participate in Paris' environmental transition thanks to a number of innovations: low-energy consumption, extensive use of renewable energy and a priority given to low-carbon mobility. On completion, the Triangle will comprise a hotel, a nursery, a health center, a cultural center, convenience stores, offices and coworking spaces, a viewing gallery, panoramic elevators, and a restaurant, open to all.
The future hotel will offer 128 rooms on six floors. Decorated by the interior design duo Dion & Arles, who have created warm and original atmospheres comprising multiple contrasts and inspirations, the hotel will become a new trendy spot in Paris with its sky bar and panoramic restaurant. Rooms will be available in a variety of categories and will offer balconies and spectacular views of Paris, the Eiffel Tower, the Seine, and the historic city center's most famous monuments.
Vincent Jean-Pierre, Managing Director, Offices France and Mixed-Use Projects Europe at Unibail-Rodamco-Westfield, comments: "The arrival of a player such as the Radisson Hotel Group, more than 2 years before the opening of The Triangle, is a strong signal that demonstrates the attractiveness of this iconic project, which will offer an unrivaled experience for tourists and Parisians. The Triangle will contribute to Paris’ influence, accompany its economic development, and participate in its environmental transition thanks to its energy efficiency."
Germain Aunidas, Global Head of Development, AXA IM Alts, adds: "The arrival of Radisson Hotel group comes at a key moment for the project, and reaffirms this development as an unmissable Parisian address. Radisson Blu will play a special role for Triangle users and will help the site’s occupiers and visitors to more intensely experience all the diversity that makes up Paris. These guests, alongside the future occupiers of the offices, will benefit from exceptional, interconnected spaces, offering a continuum of rich unprecedented experiences in Europe.”
Elie Younes, Executive Vice President and Global Development Director of Radisson Hotel Group, says: "We are grateful to strengthen our collaboration with URW and AXA IM Alts by introducing a flagship Radisson Blu hotel in the heart of Paris. We welcome the city's most iconic mixed-use development and architectural masterpiece to our family. With Radisson Blu being part of The Triangle, we continue our journey of redefining our European skyline as well as creating successful opportunities to our owners and exciting possibilities for our guests."
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Unibail-Rodamco-Westfield is an owner, developer, and operator of sustainable, premium real estate assets in the most dynamic cities of Europe and the United States.
The Group operates 74 shopping centers in 12 countries, 39 of which bear the iconic Westfield brand. These centers attract more than 900 million visits a year and offer a privileged platform for retailers and brands to forge new links with their customers. URW also has a portfolio of HQE offices, 10 convention and exhibition centers in Paris, and a development pipeline of 3 billion euros composed mainly of mixed-use assets. Today, its €51 billion portfolio is 87% retail, 6% offices, 5% convention and exhibition centers and 2% services (as at June 30, 2023).
URW is a committed partner to major cities in urban regeneration projects, developing mixed-use and urban planning projects, but also accompanying the complete renovation of existing buildings to bring them into line with the industry's most demanding sustainability standards. These commitments are reinforced by the Group's "Better Places 2030" program, which strives to have a positive environmental, social and economic impact on the cities and communities in which it operates.
Unibail-Rodamco-Westfield's dual shares are listed on Euronext Amsterdam and Euronext Paris (Euronext symbol: URW). A secondary listing has been established in Australia through Chess Depositary Interests. The Group is rated BBB+ by Standard & Poor's and Baa2 by Moody's.
For further information, visit our website: www.urw.com
About AXA IM Alts
AXA IM Alts is a global leader in alternative investments with over €184 billion of assets under management1 comprising c.€85 billion of primarily private real estate, over €88 billion of private debt and alternative credit, as well as c.€11 billion in Infrastructure and private equity. We take a 360° approach to real estate & infrastructure investing with over €115 billion of assets under management in direct opportunities, held indirectly through debt and listed equities and via long term private equity investments into operating platforms. ESG is fully integrated into our investment decision making processes with our responsible investment approach anchored by the three key pillars of decarbonisation, resilience and building tomorrow. AXA IM Alts employs 835 people located in 15 offices around the world and serves the needs of more than 600 clients from Europe, North America, Asia Pacific and Middle East. We are the number one property portfolio and asset manager in Europe2 , and one of the largest worldwide.
About AXA Investment Managers
AXA Investment Managers (AXA IM) is a responsible asset manager, actively investing for the long term to help its clients, its people and the world to prosper. Our high conviction approach enables us to uncover what we believe to be the best global investment opportunities across alternative and traditional asset classes, managing approximately €842* billion in assets as at the end of September 2023.
AXA IM is a leading investor in green, social and sustainable markets, managing €489 billion of ESG-integrated, sustainable and impact assets as at the end of December 2022. We are committed to reaching net zero greenhouse gas emissions by 2050 across all our assets, and integrating ESG principles into our business, from stock selection to our corporate actions and culture.
Our goal is to provide clients with a true value responsible investment solution, while driving meaningful change for society and the environment.
At end of December 2022, AXA IM employs over 2,600 employees around the world, operates out of 24 offices across 18 countries and is part of the AXA Group, a worldwide leader in insurance and asset management.
* Includes the contribution from Architas and AXA IM Prime, net of intercompany elimination.