The property, located near the Opéra Garnier, will undergo a renovation before being rebranded under the Radisson Collection name, with plans to open in 2027. The hotel’s transformation into a Radisson Collection property is part of Ortega’s broader strategy to enhance his real estate portfolio, focusing on well-located, high-quality assets in Europe’s most sought-after cities, in locations such as London, Barcelona, and Fort Lauderdale.

Hotel Banke, originally the headquarters of Banque Suisse et Française, is a historic Haussmannian building designed in the early 20th century. 

Pontegadea, Ortega’s investment firm, has a history of investing in prestigious properties, focusing on prime locations and iconic buildings with architectural value. The decision to transition Hotel Banke to the Radisson Collection brand reflects a growing trend of investment in luxury and lifestyle hospitality properties.

Quite interesting is also the fact that Radisson Hotel Group continues to expand its footprint in France, with recent developments in Montpellier, Reims, and Paris. The Radisson Blu brand marked its debut in Montpellier with a new 144-room property near the Le Corum Convention Center and Place de la Comédie, catering to both business and leisure guests. 

Additionally, Radisson has advanced its presence in Reims, with a newly redeveloped hotel slated, supported by local initiatives. In Paris, Radisson is set to enhance its offering by introducing a new Radisson Blu in the Triangle project, a rapidly developing mixed-use area in the city’s center.