The property, along Avenue George V, has 138 guestrooms and 30suites. Starwood Hotels manages the site, which will soon undergo a$110.6 million refurbishment and rebranding, says Ed Blum, amanaging director with Molinaro. "The Musallam family will make anannouncement about the repositioning in the next couple of weeks,"Blum tells GlobeSt.com. He said he doesn't know the details of therenovation. The hotel is known for having a majestic lobby withgold-leaf chandeliers and marble floors.

Blum says the local hotel market remains robust. "We'll see whathappens next year, but right now, especially around the triangle,the market is amazing," he says.

Ali Baheri, managing director with Molinari's Middle Eastoperations, also worked on the transaction. "We continue to see alot of activity from our Middle Eastern clients," he said in astatement. The Musallam family owns and operates hotels such as theSheraton Heathrow Airport, Novotel Geneva, Savoy Geneva, ResidenceMont Blanc and Movenpick Jeddah Saudi Arabia.