Constellation Hotels Offers to Buy InterContinental Paris Le Grand for $442 MillionAug 8, 2014
InterContinental Hotels Group has received a binding offer from Constellation Hotels Holding Limited to acquire InterContinental Paris – Le Grand for $442 million. Constellation recently purchased the InterContinental London Park Lane and has a majority investment in InterContinental New York Barclay.
Overlooking the Opera House, the hotel features 470 guestrooms, including 70 suites. It first opened in 1862 and has operated under the InterContinental brand’s 1982. Constellation has agreed to invest an estimated $80 million in renovations over time.