Dubai Holding's newly re-branded hotel chain, Jumeirah, is negotiating the possible acquisition of a number of hotels in Europe, according to reports.
A recent report suggests Jumeirah and Saudi billionaire Prince Al Waleed Bin Talal Bin Abdul Aziz are interested in buying the Hotel de Crillon near Paris's Champs Elysees.
Starwood Capital acquired control of the hotel's owner, Societe du Louvre, when it bought out Taittinger, owner of the champagne house, for nearly 1.2 billion euros ($1.42 billion) in July.
"Jumeirah also had its eye on the Hotel Martinez in the French Riviera resort of Cannes, but could face competition from the Dorchester Group, owners of Hotel Plaza Athenee and Hotel Meurice in Paris," the report said.
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Source - Gulf News
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