VICARTEM

What VICARTEM does

VICARTEM is a privately held, family-owned French group headquartered in Rennes that operates across three interlocking businesses: real estate investment and asset management, boutique hotel ownership and operations, and prime urban retail/commercial leasing. The group was founded in 2000 by Céline and Sébastien Meslin, began as a retail-boutique developer in western France, and pivoted into hospitality with its first hotel acquisition (Hôtel de Nemours, Rennes) in 2003–2004. It scaled through a steady cadence of asset acquisitions across western and southern France, anchored by the creation in 2007–2012 of the Balthazar Hôtel & Spa MGallery — the first five-star hotel in Rennes — and by the launch in 2019 of the co-branded Maisons du Monde Hôtel & Suites concept, of which three properties now operate.

Operations are run through two wholly-owned subsidiaries. Younight Hospitality (created 2022 with Romain Gowhari) designs and delivers bespoke hotel management contracts for third-party hotel owners, manages the group's owned hotel portfolio, and carries an explicit objective of 30 hotels in portfolio by 2030 versus 13 today. Vicartem REIM structures real estate acquisitions, financing, renovation oversight, and asset management mandates for institutional and family-office capital partners. The group manages 13 owned hotels (murs et fonds), 107 real estate companies, and 1,111 rooms and apartments under hotel management, with over €300M in real estate assets under management.

The business model is B2B and relationship-driven, monetized through (i) owned-hotel operating revenue and asset appreciation, (ii) recurring hotel management and incentive fees via Younight Hospitality, (iii) asset management and deal-structuring fees via Vicartem REIM, and (iv) long-term commercial rent from prime city-center retail, F&B, and service tenants (e.g., Maje, Fursac, Orange, Société Générale, Foncia). Distribution is anchored in co-investment partnerships with Extendam (repeat co-investor across at least four deals), Épopée Gestion (2024 JV targeting Atlantic-arc hotels), and Eternam (retail park acquisitions), and in franchise/co-brand relationships with Hilton's Tapestry Collection, Accor's MGallery by Sofitel, and Maisons du Monde. Geographic footprint spans Paris, Lyon, Bordeaux, Marseille, Nantes, La Rochelle, Rennes, Brest, Laval, and Brussels. Pricing is not publicly disclosed, with all mandates negotiated on a bespoke, project-specific basis. No proprietary technology platform is disclosed; core differentiation rests on real estate financial engineering, heritage-building renovation expertise (including ABF/municipal negotiation), interior design, and hotel operations.

Name

VICARTEM

Legal name

VICARTEM

Website

https://vicartem.fr

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

Family-owned French group (Rennes) investing in, renovating, and operating boutique hotels and prime urban real estate across France and Belgium via its Younight Hospitality hotel-management and Vicartem REIM real estate asset-management subsidiaries, alongside co-investors Extendam, Épopée Gestion, and brand partners Hilton, Accor, and Maisons du Monde.

Ownership category

akta.pro rank

Product category

Hospitality & Real Estate Investment

NAICS

Nonresidential Property Managers (531312), Real Estate Property Managers (53131), Lessors of Nonresidential Buildings (except Miniwarehouses) (53112), Residential Property Managers (531311)

SIC

Hotels, Rooming Houses, Camps & Other Lodging Places (7000), Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531), Lessors Of Real Property, Nec (6519)

akta.pro industry

PRIMARYBPAJAGAG

Hospitality (Hotel) Property Management

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Commercial Property Management

SECONDARYBPAJAMAE

Hospitality (Hotels & Resorts) Asset Management

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Real Estate Asset & Portfolio Management

SECONDARYBPAJALAH

Hospitality Tenant Representation

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Real Estate Leasing Services (Tenant Representation)

SECONDARYBPAJAIAE

Resort & Branded Residence Vacation Rental Management

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Vacation & Short-Term Rental Management

Keywords

• Real estate investment
• Hotel management
• Commercial real estate
• Boutique hospitality
• Heritage building renovation

Headquarters

HQ city

Rennes

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Others

Revenue model

1. Real Estate Investment & Asset Management: Vicartem acquires, renovates, and manages commercial and hospitality real estate assets (boutique hotels, retail units, office-to-retail conversions) in prime urban locations. Revenue is generated through asset appreciation, rental income from commercial tenants, and fees from asset management services for third parties via its Vicartem REIM subsidiary.
2. Hotel Management (via Younight Hospitality): Younight Hospitality, Vicartem's hotel management subsidiary, designs bespoke management contracts for hotel owners, freeing them from operational burdens while guaranteeing recurring revenue. The company earns management fees and participates in the financial performance of managed hotels.
3. Retail / Commercial Tenant Leasing: Vicartem owns commercial retail spaces in city centers (Rennes, Nantes, Marseille, etc.) leased to tenants such as Maje, Fursac, Orange, Société Générale, Basilic & Co, Les Georgettes, Caroll, Bérénice, Pause Café, and others. Revenue is generated through commercial rent.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

VICARTEM is a family-owned French group that acquires, renovates, and operates prime urban real estate assets across three integrated activities: hotel management (via subsidiary Younight Hospitality, which runs 13 hotels totaling 1,111 rooms under brand franchises like Hilton Tapestry, MGallery by Sofitel, and Maisons du Monde Hôtels & Suites), commercial real estate investment (owning and leasing prime city-center retail spaces to brands such as Maje, Fursac, Orange, and Société Générale), and real estate asset management for third parties (via subsidiary Vicartem REIM). The company focuses on rehabilitating heritage buildings in city centers of major French and Belgian cities and manages over €300M in real estate assets.

Product overview

VICARTEM is a family-owned French company operating in innovative hospitality, real estate investment, and retail sectors. The group manages its portfolio through two subsidiaries: Younight Hospitality (specializing in hotel management with bespoke management contracts) and Vicartem REIM (specializing in real estate investment management). The company operates a portfolio of hotels including luxury properties under brands like MGallery by Sofitel and Tapestry Collection by Hilton, as well as the Maisons du Monde Hôtel & Suites brand, plus various independent boutique hotels. In real estate, the company owns and manages commercial retail spaces and office buildings in city centers across France.

Differentiator

Problem solved

Functional benefit

Products and services

• Younight Hospitality (Hotel Management Services) Bespoke hotel management contracts for boutique and branded hotels operated under franchises (Hilton Tapestry Collection, MGallery by Sofitel, Maisons du Monde Hôtels & Suites) and as independent properties; delivers dual expertise in hospitality operations and financial engineering to hotel owners seeking to free themselves from operational burdens while earning recurring revenue.
• Vicartem REIM (Real Estate Investment Management) Real estate investment management subsidiary specialised in deal structuring, financing, construction oversight, and ongoing asset management services for third-party investors seeking exposure to prime urban commercial real estate.
• Balthazar Hôtel & Spa MGallery 5-star boutique hotel in Rennes, the first 5-star establishment in the Breton capital, featuring 56 rooms including 2 suites across 3,320 m² and operated under the MGallery by Sofitel (Accor) brand by Younight Hospitality.
• Maisons du Monde Hôtels & Suites Co-branded boutique hotel concept in partnership with Maisons du Monde, featuring interiors fully decorated with the brand's home furnishings; properties include Nantes (47 rooms plus 7 apartments), Marseille (62 rooms plus apartments), and La Rochelle (63 rooms near Vieux-Port), all managed by Younight Hospitality.
• Solly Hôtel Paris 4-star boutique hotel in Paris 3rd arrondissement featuring 51 rooms near the Marais district, managed by Younight Hospitality.
• Marty Hôtel Bordeaux - Tapestry Collection by Hilton Art-themed 61-room hotel in Bordeaux's Mériadeck business district, operated under Hilton's Tapestry Collection brand by Younight Hospitality.
• Le Nemours Hôtel & Appartements 3-star boutique hotel in Rennes city center featuring 41 rooms and 9 apartments; the Meslin family's first hospitality property.
• Billie Hôtel Nantes 3-star boutique hotel in Nantes featuring 49 rooms in Art Deco style inspired by the Roaring Twenties, operated by Younight Hospitality.
• Commercial Real Estate Leasing Long-term lease of prime city-center commercial retail spaces (90-2,400+ m²) to established retail, F&B, and corporate tenants including Maje, Fursac, Orange, Société Générale, Foncia, Basilic & Co, Les Georgettes, Caroll, and Bérénice across Rennes, Nantes, Marseille, Brest, and Lyon.
• Urban Heritage Building Renovation & Development Acquisition and rehabilitation of heritage buildings in city centers, including coordination with the Architectes des Bâtiments de France (ABF) and municipal authorities, interior design, and repositioning for hotel, retail, or mixed-use use while preserving architectural character.
• Hotel Co-Investment and Acquisition Origination Deal sourcing, structuring, and co-investment origination for hotel and commercial real estate acquisitions alongside institutional capital partners such as Extendam, Épopée Gestion, and Eternam; provides local expertise, renovation management, and operations in exchange for co-investment and deal flow.

Quantifiable outcome

• Over €300M in real estate assets under management
• +3 more outcomes

Named customers14 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and moderate.

• Younight HospitalitycoreOthers · 1 January 2022Younight Hospitality is Vicartem's wholly-owned hotel management subsidiary, created in 2022 by Céline and Sébastien Meslin together with Romain Gowhari. It designs bespoke management contracts for hotel owners and operates the group's hotel portfolio. The company has a stated objective of reaching 30 hotels in portfolio by 2030.
• EternammoderateStrategic or Co-development Partner · 1 January 2021Eternam and Vicartem partnered on retail park acquisitions (Portet-sur-Garonne, Rézé, Aubagne) and commercial units in Brest (B&M and 3 Brasseurs). Eternam is a real estate investment company that co-invests with Vicartem in commercial and mixed-use assets.
• Hilton — Tapestry CollectioncoreChannel Partner/ Reseller/ Distributor · 1 January 2021Hilton's Tapestry Collection brand is used for Marty Hôtel Bordeaux (acquired October 2021, opened April 2023). Younight Hospitality operates the hotel under Hilton's franchise. Hilton provides the brand, global distribution, loyalty program (Hilton Honors), and marketing support, while Younight manages daily operations.
• Maisons du MondecoreStrategic or Co-development Partner · 1 January 2019Maisons du Monde partnered with Vicartem to create the 'Maisons du Monde Hôtel & Suites' brand concept. Vicartem acquires, renovates, and operates hotels under this co-branded concept, decorated entirely with Maisons du Monde furnishings. Three hotels have been opened: Nantes (2019), Marseille (2021), and La Rochelle (2020).
• MGallery by Sofitel (Accor)coreChannel Partner/ Reseller/ DistributorBalthazar Hôtel & Spa operates under MGallery by Sofitel (part of the Accor group). This is Vicartem's flagship luxury hotel — the first 5-star hotel in Rennes. Accor provides the brand, global distribution, and loyalty program, while Vicartem owns and manages the asset.
• Vicartem REIMcoreOthersVicartem REIM is Vicartem's real estate investment management subsidiary, specializing in structuring real estate operations, financing, renovation management, and asset management for third-party investors.

Scale indicators6 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• Groupe Lucien Barrière: Iconic French hospitality group operating luxury hotels, casinos, and resorts across France and internationally. Comparable to Vicartem in operating high-end heritage hotels in premium French locations, though Barrière is far larger and more focused on integrated resort/casino assets.
• AccorInvest: Owner-operator of hotels across Europe, the largest hotel owner in Europe and Orbis in CEE. Comparable as a hotel owner/operator that combines asset ownership with operations, though at vastly larger scale and with multi-brand exposure (including MGallery used by Vicartem).
• Louvre Hotels Group: Major French hotel operator with mid-scale to upscale brands (Campanile, Premiere Classe, Tulip Inn, Golden Tulip). Comparable to Vicartem in French hospitality footprint and franchise/brand-affiliation model, though at much larger scale across multiple segments.

Direct peers

• Elegancia Hotels: Paris-based French boutique hotel group that owns, renovates, and operates a portfolio of design-led urban boutique hotels. Highly comparable to Younight Hospitality's model of acquiring heritage urban hotels and repositioning them as distinctive boutique properties.
• Hôtels & Préférence: French cooperative of independent boutique and character hotels. Comparable to Vicartem in target segment (boutique/character hotels in regional French cities) and in offering property owners a soft-brand alternative to global chains.
• Compagnie Lebon: Paris-listed holding combining hospitality (Hôtel Esprit Saint-Germain, Hôtel de Crillon-backed activities) and commercial real estate investment. Closely mirrors Vicartem's dual model of heritage hotel ownership alongside prime Paris/regional commercial property investment.
• Keys Asset Management: Paris-based hotel investment and asset management advisory specialised in European hospitality. Comparable to Vicartem REIM and Younight Hospitality for the hotel investment-advisory plus asset-management capability on behalf of institutional investors.
• Foncière des Murs (now Primonial REIM): French commercial real estate investor historically focused on hotel, hospitality, and retail assets on behalf of third-party investors. Comparable to Vicartem REIM's mandate of acquiring and asset-managing hotel and commercial real estate for institutional capital.

Others

• Eurazeo Patrimoine: Private equity platform investing in European real estate and hospitality assets. Comparable as an institutional capital partner competing for the same French/European hotel and commercial RE deal flow that Vicartem pursues alongside Extendam and Épopée Gestion.

Regional players

• Meininger Hotels: European hybrid hotel/hostel operator focused on mid-scale urban properties primarily in Germany, Austria, and other Central European markets. Comparable to Vicartem in operating branded, design-conscious urban hotels under franchise-like arrangements, though focused on a different geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/vicartem
• Facebookfacebook.com/vicartem.hotellerie.5

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VICARTEM