{"id":1004066621,"date":"2013-02-04T08:40:55","date_gmt":"2013-02-04T16:40:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004066621"},"modified":"2022-12-03T18:42:56","modified_gmt":"2022-12-04T02:42:56","slug":"starwood-capitals-group-du-louvre-sells-four-leading-hotels-in-france","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/starwood-capitals-group-du-louvre-sells-four-leading-hotels-in-france\/","title":{"rendered":"Starwood Capital&#8217;s Group Du Louvre Sells Four Leading Hotels in France"},"content":{"rendered":"<div id=\"attachment_100406\" style=\"width: 240px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/Concorde-La-Fayette.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-100406\" data-attachment-id=\"1004066629\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/starwood-capitals-group-du-louvre-sells-four-leading-hotels-in-france\/concorde-la-fayette\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/Concorde-La-Fayette.jpg\" data-orig-size=\"468,476\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Concorde La Fayette\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/Concorde-La-Fayette.jpg?w=468\" class=\" wp-image-1004066629\" title=\"Concorde La Fayette\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/Concorde-La-Fayette.jpg\" alt=\"\" width=\"230\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/Concorde-La-Fayette.jpg 468w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/Concorde-La-Fayette.jpg?resize=295,300 295w\" sizes=\"auto, (max-width: 230px) 100vw, 230px\" \/><\/a><p id=\"caption-attachment-100406\" class=\"wp-caption-text\">Concorde La Fayette<\/p><\/div>\n<p>By Barbra Murray, Contributing Editor<\/p>\n<p>Starwood Capital Group&#8217;s Groupe Du Louvre has sold four premier luxury hotels in France as part of the company&#8217;s ongoing plan to monetize the GDL hotel portfolio.\u00a0 Luxembourg-based Constellation Hotels Holding Ltd. is the new owner of the 1,700-room collection of assets, which includes Concorde La Fayette and Hotel du Louvre in Paris, Hotel Martinez in Cannes and Palais de la M\u00e9diterran\u00e9e Hotel and Casino in Nice.<\/p>\n<p>It was in 2005 that Starwood came into possession of the GDL assets with the $3.2 billion acquisition of Soci\u00e9t\u00e9 Du Louvre, an entity with a group of subsidiaries that included perfume producer Annick Goutal; Groupe Taittinger, parent company of champagne producer Taittinger CCVC; a budget hotel chain; and crystal company Baccarat, which will make its entr\u00e9e into the hotel business with the opening of its first flagship hotel and residences in New York City in 2014.<\/p>\n<p>The hotels will now operate under Hyatt Hotels Corp., and will be rebranded to reflect the change in management. The 950-room Concorde La Fayette will be known as Hyatt Regency Paris Etoile; Hotel Martinez, which features 490 guestrooms, will become Grand Hyatt Cannes Hotel Martinez; Palais de la M\u00e9diterran\u00e9e Hotel and Casino, offering 188 rooms, will be rebranded Hyatt Regency Nice Palais de la M\u00e9diterran\u00e9e; and following a two- to three-year renovation, the approximately 150-room Hotel du Louvre will ultimately be reinvented as an Andaz brand hotel.<\/p>\n<div id=\"attachment_1004066633\" style=\"width: 240px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/Hotel_Martinez.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004066633\" data-attachment-id=\"1004066633\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/starwood-capitals-group-du-louvre-sells-four-leading-hotels-in-france\/hotel_martinez\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/Hotel_Martinez.jpg\" data-orig-size=\"468,313\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Hotel Martinez\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Hotel Martinez&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/Hotel_Martinez.jpg?w=468\" class=\" wp-image-1004066633  \" title=\"Hotel Martinez\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/Hotel_Martinez.jpg\" alt=\"\" width=\"230\" height=\"153\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/Hotel_Martinez.jpg 468w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/Hotel_Martinez.jpg?resize=300,201 300w\" sizes=\"auto, (max-width: 230px) 100vw, 230px\" \/><\/a><p id=\"caption-attachment-1004066633\" class=\"wp-caption-text\">Hotel Martinez<\/p><\/div>\n<p>Since Starwood&#8217;s commencement of the monetization program, the company has sold in excess of $3 billion in assets. That list encompasses Taittinger CCVC, Annick Goutal and the majority of its luxury hotel properties, including the 231-room Hotel Lutetia in the Saint-Germain-des-Pres district of Paris, which was acquired by international real estate company Alrov in 2010.<\/p>\n<p>With the recent disposition of the four hotels, the GDL portfolio now consists of 19 luxury lodging properties.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Starwood Capital Group&#8217;s Groupe Du Louvre has sold four premier luxury hotels in France as part of the company&#8217;s ongoing plan to monetize the GDL hotel portfolio.  <\/p>\n","protected":false},"author":755,"featured_media":1004066629,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21751,16,21783,21742],"tags":[],"class_list":["post-1004066621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-hotel","category-international","category-investment","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Starwood Capital&#039;s Group Du Louvre Sells Four Leading Hotels in France - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/starwood-capitals-group-du-louvre-sells-four-leading-hotels-in-france\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Starwood Capital&#039;s Group Du Louvre Sells Four Leading Hotels in France\" \/>\n<meta property=\"og:description\" content=\"Starwood Capital Group&#039;s Groupe Du Louvre has sold four premier luxury hotels in France as part of the company&#039;s ongoing plan to monetize the GDL hotel portfolio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/starwood-capitals-group-du-louvre-sells-four-leading-hotels-in-france\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-02-04T16:40:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-04T02:42:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/02\/Concorde-La-Fayette.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"468\" \/>\n\t<meta property=\"og:image:height\" content=\"476\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Suzann D. 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