Wednesday, November 16, 2016

Hotels/Leisure : Paris 17e : Henderson Park acquires Le Méridien Etoile to 365 M€ – Business Immo

Henderson Park, the new european platform of real estate investment created by Nick Weber, has acquired the Le Méridien Etoile with Mount Kellett Capital Management and Cedar Capital to 365 Million€.

Le Meridien Etoile is a hotel with 1025 bedrooms. It was originally built in 1972 to be the flagship hotel of Air France. The hotel is owned in full ownership, in a privileged area of Paris, directly in front of the congress palace.

The Méridien Etoile has been re-launched in October 2016, following “a renewal very important to have brought significant improvements to the rooms as well as conference rooms and meeting” according to the statement of Hender son Park. The hotel is currently operated by Starwood Hotels under the brand name Meridian.

Nick Weber, a founding partner of Henderson Park, says: “The hotel Le Méridien Etoile is a superb hotel with a very large potential that fits perfectly into our investment approach in that it is a property of very high quality in a privileged area in a city of importance and great passing, which also gives the opportunity to create added value. We believe very strongly in the strengths of fundamental Bets that is a tourism destination and as a place for investment and that, next to London, is one of only two global cities in Europe. Paris is also one of the first three cities in the world in number of tourists”.

This acquisition is the first of Henderson Park since its creation in September 2016 after having raised$ 500 Million from Stone Point Capital, the Kuwait Investment Authority and Wafra Investment Advisory Group in quality of p rimary investors.


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