facebook
twitter
rss
account
search
search
 

De Crillon in Paris sold to Saudi royalty

Dec. 23, 2010 at 2:06 PM   |   Comments

PARIS, Dec. 23 (UPI) -- A member of the Saudi royal family has purchased the luxury Hotel de Crillon in Paris, the hotel's current management firm said.

Groupe du Louvre, which runs the 147-room hotel for equity firm Starwood Capital, said only that an "eminent member of the Saudi royal family" had purchased the hotel, although the family member's name was not disclosed, the British Broadcasting Corp. reported Thursday.

The hotel is a converted 18th Century palace in the heart of Paris on the Place de la Concorde. The purchase price, reportedly, was $328 million.

After a transition period, the hotel will likely be managed by Kempinski, a Swiss hotel management firm, the BBC said.

© 2010 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Celebrity Couples of 2014 [PHOTOS]

Celebrity Couples of 2014 [PHOTOS]

Most Popular
1
iPhone 6 reportedly going to cost more than $800
2
P-8A Poseidon acquisitions move forward
3
Shell finds more gas in Malaysia
4
Gazprom hosts Chinese envoy to Moscow
5
Hungary ships surplus tanks to Czech Republic
Trending News
Video
x
Feedback