Saudi sheikh eyes second Paris hotel

10th January 2005, Comments 0 comments

PARIS, Jan 10 (AFP) - Saudi businessman Prince Alwaleed bin Talal, who has stakes in the Euro Disney theme part and owns the luxury George V hotel here, is looking to acquire another hotel in the French capital and might bid for the Paris InterContinental, the Financial Times reported Monday.

PARIS, Jan 10 (AFP) - Saudi businessman Prince Alwaleed bin Talal, who has stakes in the Euro Disney theme part and owns the luxury George V hotel here, is looking to acquire another hotel in the French capital and might bid for the Paris InterContinental, the Financial Times reported Monday.

"We would be interested to have a second hotel in Paris," George V general manager Didier Le Calvez told the paper.

It said the prince's investment group, Kingdom Holdings, has formed a joint venture with Bank of Scotland and Fairmont Hotels and Resorts, which is considering buying luxury hotels in Europe, including the Paris InterContinental.

The hotel is being sold by InterConentinetal Hotels Group for USD 3.74 billion (EUR 2.86 billion), according to the Financial Times.

It added that the hotel, located near the Louvre and the Place de la Concorde, might also attract the interest of six or seven other potential buyers.

 

© AFP

Subject: French News

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