Le Méridien Etoile, prestigious four star hotel located Porte Maillot in Paris, changed hands. The transaction was worth 300 million euros.
Record sale of Le Méridien
Nestled in the centre of Paris in the 17th arrondissement, this Parisian luxury hotel is amongst the most renowned hotels of the capital. Nonetheless, its proprietor, Starwood Capital investment fund, decided to sell the hotel.
Its new owner is no less than Mont Kellett investment funds. The company, created in 2008, had already acquired the Sofitel Le Faubourg Paris in 2012 for 113 million euros. In comparison, Le Méridien was sold for the record price of 300 million euros. The sale concerned both the building and its business assets.
Le Méridien Etoile’s trump card
The large sum can be explained by the various advantages presented by Le Méridien Etoile. The four star hotel enjoys an ideal location. Standing opposite Palais des Congrès, it is only a few minutes by foot from the Champs Elysées and la Défense.
Thanks to its 1 025 rooms and suites, the place can welcome business men and women and tourists alike. With its contemporary decoration, each room is equipped to answer each guest’s needs.
Furthermore, Le Méridien is currently the largest hotel in France and has an average occupancy rate of 80%.