Paris' world-famous luxury Crillon hotel has been sold to Saudi investors close to the royal family for around 250 million euros ($355 million), sources close to the sale said on Friday.
The Figaro daily said that US-based Starwood Capital was in the final stages of the sale which excludes a 100-million-euro programme to renovate one of the world's oldest luxury hotels.
The Kempinski Hotels group is to manage the Crillon, the paper said, built in the 18th century on what would become the Place de la Concorde. The hotel is next to the United States embassy.
Starwood Capital and the Crillon declined to comment on the deal.
The deal comes following a months-long legal battle between Starwood Capital and previous potential buyer JJW Hotels and Resorts, owned by Saudi Sheikh Mohammed al-Jaber.
Starwood Capital bought the hotel from the former Taittinger group in 2005.
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
UAE currency: the story behind the money in your pockets
UAE v Zimbabwe A
Results
Match 1 – UAE won by 4 wickets
Match 2 – UAE won by 5 wickets
Match 3 – UAE won by 25 runs
Match 4 – UAE won by 77 runs
Fixture
Match 5, Saturday, 9.30am start, ICC Academy, Dubai
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
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UAE currency: the story behind the money in your pockets
THE%20SPECS
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Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.