London Property Investment Firm, Henderson Park, Buys Paris’ Largest Hotel, Le Meridien Etoile

Date: November 2016

Location: Facing the Paris Convention Centre, Paris, France

Name: Le Meridien Etoile – Four star

No. of Keys: 1025, including 22 suites.

Seller: Mount Kellett Capital Management and Cedar Capital.

Le Meridien Etoile was originally built in 1972 as the flagship hotel of Air France; now run by Starwood, it has recently undergone a major refurbishment.

Buyer: Henderson Park, a group established by Nick Weber, a former executive at Goldman Sachs and the hedge fund Mount Kellett. The first purchase under this new guise…they went on to acquire two large Metropole Hiltons in the UK and the Westin Paris.

For this purchase they raised money from investors including the Kuwait Investment Authority.

Price: €365m

Price per Key: €356,098

THPT Comment: Clearly a new entrant with big aspirations. They went on to acquire two large Metropole Hiltons in the UK and the Westin Paris.

First Seen:The FT