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Inside the Market / Big Deals

A new dawn for Paris’ iconic Le Grand Hotel

Le Grand Hotel Paris Sold

InterContinental Hotels Group (IHG) sold famed Paris property Le Grand Hotel in 2014 to Qatari group Constellation Hotels Holding Limited for €330 million. Constellation plans to renovate Le Grand at an estimated cost of €60 million.

Le Grand Hotel is located on the Rue Scribe in the 9th arrondissement and overlooks the Palais Garnier, which houses the Paris Opera. Housing 470 guest rooms, including 70 suites, Le Grand was originally built by the wealthy Pereire brothers. Construction began in April 1861, and the hotel 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. The movie “Frantic,” directed by Roman Polanski and starring Harrison Ford, was shot at the hotel.

Le Grand Hotel 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.

Image ©2.0

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