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Case Study

Sale of Marriott Champs-Elysées Paris

 
Jones Lang LaSalle's Hotels & Hospitality team was instructed by Strategic Hotels and Resorts (SHR) to sell their leasehold interest in the Marriott Champs-Elysees Paris. The situation was complex due to the freehold position of the hotel owned by a third party.
 
We undertook a very discreet marketing process and identified a highly qualified buyer for both SHR’s leasehold position as well as the freehold position owned by Union Investment.
 
In March 2011 the property was sold to an undisclosed buyer from the MENA region for approximately €250m. Proceeds of the sale significantly exceeded expert valuation. This deal marks the fourth time that the Hotels & Hospitality Group of Jones Lang LaSalle has transacted on the property - having sold the property twice before in 1998 and 2006, and also arranged the refinancing of the property in 2001.

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