Investment firm St James eyes up IHG's Paris hotel

21 June 2005
Investment firm St James eyes up IHG's Paris hotel

Following the collapse of Intercontinental Hotel Group's sale of its prestigious Paris property last week, there is already at least one new bidder in the frame.

Investment fund St James Capital and a major worldwide hotel group are believed to have tabled a bid more than the original valuation of £220m for the property.

Although a IHG spokesman declined to comment, he admitted that there had already been substantial interest in the hotel.

Sheikh Mohammed bin Rashid Al Maktoum withdrawal last week from the sale is predicted to reignite interest from previous failed bidders, which include Syrian investor Simon Halabi, Starwood Capital and Buckingham Securities.

IHG has already disposed of 123 hotels for a total of £1.8b and has a further 22 properties on the market valued at £420m.

Buy this week's Caterer magazine for more industry news and analysis

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking