Date: December 2017
Location: Paris, France – 1st arondisement
Name: Westin Paris-Vendome Hotel, five star
No. of Keys: 428, with three restaurants and several bars, a large conference area (13 mtg rooms housing upto 2,000 pax) including three historic lounges, a fitness centre and a spa as well as thirteen “leading” shops located on the ground floor, on Rivoli street and Castiglione street.
Seller: Singapore’s sovereign wealth fund GIC, advised by by Eastdil and Freshfields Bruckhaus Deringer.
Buyer: Henderson Park, advised by Pardieu Brocas Maffei, Jones Day and Gide Loyrette Nouel.
Price per Key: €1,285,047
THPT Comment: This further acquisition pushes Henderson Park into becoming a meaningful hotel company from a recent start in the sector following on the acquisition of two Metropole hotels in the UK and Le Meridien Etoile in Paris.
They obviously like Paris…Henderson Park founder Nick Weber said: “Our two acquisitions reflects our belief in Paris’s predominant position as a world metropolis. ”The ‘Macron effect’ stimulated a revival confidence in business, indeed noticeable both internally and internationally, while the hosting of the Rugby World Cup in 2023 and the Olympic Games in Paris in 2024 can only further strengthen the status of leader of the city as a tourist destination.”
First Seen: Property Week