Barnes has opened a new department to complete the already wide range of business lines of Barnes International. Barnes Hotels Bankers. Interview with Dominique Ruchaud, Associate Director of this new department.
How did the idea for this new department come about?
Dominique Ruchaud: I am an expert in the hotel industry and have always worked as managing director in major Parisian hotels. I have purchased, built and renovated several hotels. In 2002, I had the opportunity to buy the Champs Elysées Plaza, a beautiful establishment which we restored to its former glory. At the same time, Richard Tzipine, managing Director of BARNES, is an old friend. we worked together at the beginning of our careers and decided to combine our skills in both the hotel industry and luxury real estate to create this new business line.
What is the aim of this new business line?
DR: The aim of BARNES HOTELS BANKERS is to act as an intermediary for hotels, hotel residences, self-catering accommodation, retirement homes, property searches, changes of use, etc. This means identifying establishments for sale, promoting them as best as possible and reselling them using our expertise on potential clients. Today’s buyers are primarily investment funds, wealthy foreigners, qatari and Asian investors, old french families and hotel groups. The international reputation of BARNES and the quality of its clientele are precious assets.
What are your goals?
DR: we will start slowly to gain recognition in this area, focusing first on establishments outside Paris and the rare few Parisian establishments for sale. After setting up our first office in Paris, we will extend our scope of action internationally and focus on more large-scale operations.
Associate Director BARNES Hotel Bankers
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