Le Meridien Étoile Hotel in Paris sold for a record €300 million
Starwood Capital has recently sold Le Meridien Étoile Hotel in Paris to Mount Kellett investment fund for a record 300 million euros. Le Meridien Étoile is the largest hotel in France with 1,050 keys and an average occupancy rate of 80%. The hotel is currently operated by Starwood Hotels & Resorts. In 2012, Mount Kellett acquired Sofitel Le Faubourg in Paris from Accor Hotels for 113 million euros.