On Thursday July 2nd, in the presence of the French and Chinese Prime Ministers, Louvre Hotels Group has signed a strategic agreement with Chinese bank ICBC that will provide the Group with the means to support its ambitious development policy in France and Europe. Now the Group is in a position to boost its policy of organic and external growth, as well as its renovation programme.
Perseus Capital Partners (PCP) announces the acquisition of a 96-room hotel in Montreuil, Greater Paris. This new transaction evidences PCP's investment framework, which focuses on unlocking value from repositioning independent hotels with large upside potential.
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email [email protected] to buy additional rights. During the past few years, Accor has earned a reputation for feisty boardroom showdowns and sensational management reshuffles. On Tuesday, Europe’s largest hotel group by number of rooms named another new chief executive. At a board meeting the company confirmed that Sébastien Bazin, until now the European head of California-based Colony Capital, would become the new chairman and chief executive with immediate effect.
French hotels launched an attack on three of the world's biggest online booking firms, saying they are unfairly twisting their arm on prices by banning them from offering reductions or taking bookings direct.
With record room prices of €1,000 (US$1,297) and occupancies of 95%, the luxury hotel sector in Paris is flourishing. But is the market ready to absorb a string of new openings forecast for the coming two years? It was back in October 2006, when hotel news headlines in France announced that Parisian palaces—ultra-luxury hotels, such as Hôtel de Crillon and Hôtel Plaza Athénée—were going “full sail.”