New Corporate Client Building in Paris

The new "10 Douai" building allows us to enter the French market with a fresh medium to long-term rental proposition that caters to the needs of both business travelers and tourists seeking accommodation for at least 30 days.

The apartments and studios boast modern, well-lit, and minimalist interiors, furnished with bespoke furniture and fully equipped to provide residents with a ready-to-live experience. All tenants have access to common areas, including a spacious co-working space, a communal kitchen, a modern gym, a laundry facility, and a private courtyard.

The demand for high-quality, all-inclusive housing solutions in Paris is on the rise, as the city competes with London to become the primary European banking hub, driving increased demand for corporate travel. In January 2023, the World Travel and Tourism Council (WTTC) named Paris the "most powerful" tourist city in the world, and the upcoming Rugby World Cup in September 2023 and the Olympics in the summer of 2024 will further fuel growth in both sectors. Following Brexit, many European offices relocated from London to Paris, and over the past decade, the French capital has continued to be one of the most innovative and startup-friendly cities.

A BIT OF HISTORY

Our office in Paris opened its doors in 2020 under the leadership of Axelle Baillet, Country Director for the French market, and we bolstered our presence with the acquisition of Chez Nestor (now part of the Joivy Group) in March 2022. Chez Nestor was founded in Lyon in 2012, forming the new French coliving leader with a portfolio of over 1,800 beds in 6 cities.

This merger closely followed the acquisition of ALTIDO (now part of the Joivy Group), one of the major European operators of short-term rentals, managing over 2,500 properties across Europe, including a diversified portfolio of apartments, townhouses, aparthotels, and serviced apartments.

These mergers gave birth to a revitalized Joivy Group that now brings together over 450 individuals in 6 countries.

HEAR FROM THE KEY PLAYERS

William Maggio, Co-Founder and President of DoveVivo (now part of the Joivy Group), comments: "The inauguration of this new building, of which we are particularly proud, is an example of how our housing platform can meet any real estate market need, seamlessly combining the expertise and know-how of affiliates: on one side, the property & customer management skills of DoveVivo (now part of the Joivy Group) and Chez Nestor (now part of the Joivy Group), and on the other, the efficient and high-quality hospitality of ALTIDO (now part of the Joivy Group)."

Axelle Baillet, Country Director France of DoveVivo (now part of the Joivy Group), states: "The 10 Douai building embodies what travelers, businesses, and expats seek when staying in Paris: a fully renovated building with luxury apartments, exceptional shared spaces, all in a trendy neighborhood. This opening is a milestone in our growth in France and the first step towards a comprehensive offering that can meet every housing need."

Will Parry, CEO of ALTIDO (now part of the Joivy Group), comments: "The Parisian tourist scene is booming. With more business travelers visiting the city than ever before, it's the right time to expand our horizons and fill a gap in the high-quality rental accommodation market. This property will uphold our values of delivering top-notch service to international clients and providing a first-class hospitality experience, setting us apart from the competition."