Fresh breath of new life in two hotel residences

84-Vaucluse Businessman Gilles Ridel has acquired the Court’Inn Aqua and Court’Inn Suites hotel residences, which form an atypical group. A long process, carried out by Michel Simond Avignon, which included a notarized deed for the sale of the premises and a special deed for the company.

The Court’Inn Aqua and Court’Inn Suites Avignon (Vaucluse) residences run by descendants – not hoteliers – of the original owner were atypical property. Located near the Cortin-Avignon-Confluence area, 300 meters from each other, the two residences managed by one company consist of two real estate complexes combining 2 hotel apartments of 29 and 21 apartments with green spaces, and for the Court’Inn Aqua, parking and bathroom Swimming pool, play area, breakfast room and separate house.

The business had been taken over a few years earlier by descendants of the original owner’s mixed family, part of which lived in Canada and who ended up exhausting the job and wanted to hand it over.‘, he explains Jean-Philippe Pascalfrom Michel Simond Avignon, a company that specializes in goodwill transactions and solicits Jill Radell, an entrepreneur and founder of ETI Nexway, is keen to diversify his investments and engage locally. The first visit took place in January 2021. If the product doesn’t really tempt him, Jill Riddell on the other hand is the idea that there’do everythingAnd because the project man is also the man of characters, he sees a good economic equation there.

Backed by his successful experience taking over the Chamois d’Or residence and the Marielle (4 star) hotel in Val Thorens, the business manager has mastered the financial aspects of tourist lodging. This is added to the human dimension of the project, which includes social and solidarity housing on a weekly or monthly basis. “Thanks to my previous experiences in the field of entrepreneurship, it was important for me to be able to reconcile running a business with a laudable activity that is beneficial to society.”, recalls the 66-year-old leader, who has since called the county to welcome Ukrainian refugees into his institution.

Long but smooth process

The compromise signed in the summer of 2021 will be followed by a final signing in January 2022.”The process was long but smooth”, stated Jean-Philippe Pascal, who accompanied the buyer in negotiations with the sellers as well as with financing organizations (LCL and Bpifrance). From a legal point of view, the process required legal proceedings with a separate process: a notary for the sale of the land and contracts under private signature via the company’s lawyer. “For our part, we created two SAS subsidiaries for our holding company Chamval: one for buildings and one for fund.“, explains Jill Riedel, satisfied with his ability to take over a company including buildings and money.”Owning walls is a guarantee of the freedom to implement the improvement and transformation project as you wish‘, the one who already has a large mural to renovate and create the Aqua project.

The famous Festival Sud Pavilion, and Festival Sud Aqua, in reference to the Avignon Festival, the two residences will also be renovated and designed. Wing part on the theme of Rhne, Aqua on Bike. “We are located on the Via Rhna that connects Lake Geneva with the Mediterranean and is located 75 km between La Palaud and Avignon‘, details Gilles Ridel, also a passionate cyclist who has already created the ‘Bikeroom’ for passing cyclists in and out: secure storage for race bikes and mountain bikes, water pump laundry, technical assistance tools, laundry and cyclist clothing service…

#avignon #gilleridel #recovery #michelsimond

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