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Paris’s iconic Le Grand hotel is to be sold to a Qatar group for €330 million
Sales of famous Paris hotels continue apace. InterContinental Hotels Group (IHG) has recently agreed to sell the Le Grand hotel to the Qatari group Constellation Hotels Holding Limited for €330 million. The hotel currently has 470 guest rooms, including 70 suites. Constellation plans to renovate Le Grand at an estimated cost of €60 million.
The hotel is located on the Rue Scribe in Paris’s 9th arrondissement (district) and overlooks the Palais Garnier, which houses the Paris Opera. Le Grand was built by the wealthy Pereire brothers. Construction began in April 1861 and it was opened a year later.
The imposing property was part of Baron Haussmann’s massive reconstruction program that transformed the face of Paris. It was constructed in the classic Haussmannian style, with wrought iron balconies and a mansard roof with attic rooms lit by dormer windows.
In the early days, the hotel featured 800 guest rooms, with a whole floor reserved for guests’ servants. The celebrated Café de la Paix has occupied the ground floor of the hotel ever since it opened.
The hotel has a long tradition of hosting royalty, including Tsar Nicholas II, King Edward VII of Britain and Queen Rania of Jordan. Emile Zola set the death of his tragic character Nana at the hotel. More recently, the movie “Frantic” directed by Roman Polanski and starring Harrison Ford, was shot there.
Le Grand has been part of the IHG brand since 1982. IHG will continue to manage the hotel under a 30-year contract. Constellation also recently purchased the InterContinental London Park Lane and the InterContinental New York Barclay hotels.
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