Aging offices, obsolete hotels: Edgar Suites is putting its own spin on a very topical trend: recycling. Founded in 2016 by three partners - Xavier O'Quin and Maxime and Grégoire Benoit - the group specialises in converting buildings that have fallen out of fashion into long-stay accommodation solutions. While Edgar Suites now has around twenty locations in France - most of them in Paris and two in Bordeaux - its most recent opening was in mid-April at 25 rue du Jour in the capital.
For the occasion, it was a question of transforming a building dating from the 17th century, the Hôtel de la Porte, which at one time housed the headquarters of the Paris Bar Association, then a museum until 2020 telling the story of Parisian lawyers and major cases, including the Dreyfus and Straviski trials and that of Marie-Antoinette. Old stones, wrought iron, a grand staircase and a listed lounge: it's in this setting full of charm and history that Edgar Suites has set up ten flats combining modern comforts with old-world charm and fitted out in partnership with Selency, specialists in second-hand furniture.
As at its other properties, Edgar Suites offers "urban suitesThese include studios, but above all two- and three-bedroom flats with tasteful decor and kitchens equipped with top-of-the-range utensils. " With a large television and a powerful fibre optic connection, everything is in place for customers to work, entertain friends or watch Netflix in peace." stresses the group's co-founder.
To this experience " just like home" Edgar Suites also adds services such as tea and coffee making facilities, bike hire and a driver to pick passengers up from the airport. " We also have some pleasant surprises in store for our customersadds Maxime Benoit. When they arrive, for example, a welcome basket awaits them in the flat. We give them tote bags to go shopping.
Limited but digital services
While the establishments do not have a physical reception area as such, the flats are accessible via a code lockThis is activated at 3pm on the day of arrival and deactivated at 11am on the day of departure. However, multi-skilled housekeepers are on hand to help guests assemble their suitcases. And to compensate for the lack of staff, Edgar Suites has organised a digital concierge service via WhatsApp. " With a response within a minute" says Maxime Benoit.
While Edgar Suite caters for a leisure clientele due to the location of its establishments, always in the city centre, it also caters mainly for business customers with strategic locations for this clientele. The first establishment, for example, opened near the Porte de Versailles exhibition centreEdgar Suites also has a residence near the Parc du Princes and companies based in Boulogne, another in Levallois, not far from the headquarters of L'Oréal and close to La Défense, while in Bordeaux, the group has set up in the Mériadeck business district.
" With this concept of boutique aparthotels, we wanted to dust off the urban residence.says Maxime Benoit. Many companies have agreements with hotels, but we realise that employee demand is changing, that they want to more spacious spaces where you can cook and entertain friends. "The formula is proving popular, with Edgar Suites reporting occupancy in excess of 90 %. Although the pandemic meant that the long-haul clientele, which had previously been the majority, disappeared, the number of visitors was sustained by the local clientele.
" We are seeing more and more French and Europeans taking advantage of the opportunity to visit Paris while teleworking, or people who have left Paris to live in Marseille, Lyon or Bordeaux and come to stay with us for several days, combining their meetings." says Maxime Benoit. Among its regulars, Edgar Suites can also count on business groups who, in a coliving spirit, take a large flat with several bedrooms - with private bathrooms - grouped around a shared kitchen and lounge.
Edgar Suites' ambitions outside Paris
To accelerate its development, Edgar Suites raised funds last year - €104 million - from BC Partners Real Estate, with the aim of managing 700 urban suites by 2026, compared with 150 today. This is the first tangible result of this financial injection, the purchase of an initial building 100 m from the main entrance to the Porte de Versailles exhibition centrein front of the Palais des Sports. " This beautiful development will offer 56 flats over 10 floors, with many spacious two- and three-bedroom flats, terraces, etc." says Maxime Benoit. Expected to open in late 2023 or early 2024, in time for the Paris Olympics.
Before then, Edgar Suites will also have set up in two new towns in 2023, in Cannes and Lille, in an Art Deco building. While many of the ten or so projects currently under way involve Paris and its inner suburbs, the group intends to expand its presence in the rest of France. expanding its regional footprint. " We've identified ten or so towns where we'd like to set up, including Montpellier, Nantes, Nice, Toulouse and Strasbourg." concludes Maxime Benoit.
