Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PARIS-Starwood Hotels is gearing up to operate a new Westin Hotel in central Paris. The global chain has entered into a long-term management agreement with GIC Real Estate, the property investment arm of the Singapore government. The value of the deal has not been disclosed.

The landmark hotel, formerly the Intercontinental Paris Hotel, will be the first Westin in Downtown Paris and the fifth Starwood property in France. The hotel opened in 1878 and has long been considered a one-of-a kind asset. The hotel underwent a euro 46-million refurbishment in 1998, and the owners will invest an additional euro 12 million to convert this property to Westin Brand standards.

The Westin Paris, due to open in October, will comprise 438 rooms, including 76 suites. It also has a 4,300-sf ballroom as well as 11 meeting rooms, providing a total of 21,500 sf of meeting space.

“This was a rare opportunity to purchase a freehold, prime hotel in Paris,” states Dr. Seek Ngee Huat, president of GIC. Turning to the state of the hotel business in general, he adds that he expects, “strong growth in light of the anticipated recovery in the Paris hotel market.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.