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 per Key: €356,098
First Seen:The FT