Copthorne Hotel Holdings, a fully owned subsidiary of City Developments Limited (CDL), has acquired the Hilton Paris Opéra hotel from funds managed by Blackstone.
The acquisition is valued at €240m ($302.30m).
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Situated in Paris’s 8th arrondissement and adjacent to the Saint-Lazare train station, the deluxe hotel has 268 rooms across five floors.
The 18,339m² hotel includes four food and beverage outlets, eight conference and meeting rooms, and two retail spaces on the ground floor.
Hilton Paris Opéra, designed by French architect Juste Lisch, features a Haussmanian façade. The hotel underwent a renovation in 2015 with a €43.4m investment.
Last year, it earned the BREEAM In-Use Very Good certification.
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By GlobalDataCDL executive chairman Kwek Leng Beng said: “Throughout history, Paris has been one of Europe’s most recognisable and enduring cities, and a premier travel destination, beloved for its culture, cuisine, and fashion.
“This acquisition provides us with the rare opportunity to enhance our hospitality portfolio with a trophy asset, expand our presence in a key gateway city in Europe ahead of the Paris 2024 Olympics and bolster our recurring income with potential for value-add.”
Following the latest acquisition, CDL’s presence in Paris now includes three hotels, totalling 670 rooms.
The group’s other two Parisian properties are the 163-room M Social Hotel Paris Opéra and the 239-room Millennium Hotel Paris Charles de Gaulle.
Both are operated by CDL’s subsidiary Millennium & Copthorne Hotels.
