Luxury hotel group Mandarin Oriental has announced a deal to manage a new palace hotel in Paris.
The property, which is due to open in late 2010, will be located on rue Saint Honore, in a redevelopment of a 1930s art deco building.
The hotel will feature 150 guestrooms and suites, as well as a special inner courtyard with extensive restaurants, bars and a Mandarin Oriental-branded spa, fitness centre and indoor swimming pool.
Edouard Ettedgui, group chief executive, said: "We are delighted to be bringing Mandarin Oriental into the very heart of Paris, one of the world's premier destinations. This is a significant step in our strategy to plant our brand firmly in the world's most important business and leisure destinations."
Mandarin Oriental has pledged $40m (£20.3m) for furniture, fixtures, equipment, and pre-opening costs, which will be invested from 2009. However the long-term leasehold deal with owner and developer SFL, is still subject to planning approval.
By Emily Manson