The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterMon 20 Oct 14

Trophy Asset Paris Marriot Champs-Elysees Hotel Sells For $501 Million

p

A Chinese investor has purchased

Paris Marriot Hotel Champs-Elysees for €344.5 million ($501.1 million AUD), through JLL’s Hotels and Hospitality Group.


The 192-room Marriot Champs-Elysees, located on the prestigious Avenue des Champs-Elysees, is one of Paris’ finest real estate assets.


The sale was a rare opportunity for the market with high barriers to entry due to lack of supply and huge demand for trophy assets.


Patrick Saade, Vice President of JLL’s Hotels & Hospitality Group said their involvement in this landmark shows the company’s skills in selling unique properties.


"JLL's involvement in this landmark deal is another demonstration of our skill in selling unique properties in Paris,” said Mr Saade.


“It also demonstrates the trust clients place in our cross-border expertise, our brand and our global platform."
JLL predicts 2014 will see annual hotel investment volumes across Europe, the Middle East and Africa grow by more than 20 per cent.


JLL has secured deals to exceed of €1 billion ($1.5 billion AUD) in Paris this year.


Nihat Ercan, Executive Vice President of JLL’s Hotels & Hospitality Group in Singapore said the sale confirms the increasing interest of properties in Paris.


"This sale confirms the increasing interest from Asian capital for assets in Paris and the attractiveness of European key gateway cities for high-profile real estate investments,” Mr Ercan said.


“Our proven track record for completing flagship deals saw us ranked the number one hotels broker in the world by RCA for 2013 and deals like this help us to reach our aspirations of delivering truly global investment strategies that deliver maximum value for our clients."

HotelInternationalReal EstateSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Woolloongabba Precinct Vulture St
Exclusive

Brisbane Developer in Cross River Rail Compensation Tussle

Clare Burnett
4 Min
The Mondrian Gold Coast hotel's food and beverage is driving profits
Exclusive

Touch, Taste, Theatre: What’s Driving Mondrian’s Success

Renee McKeown
6 Min
Fortis’ display suites are designed as brand environments first, with tactile details and curated design to build buyer confidence before project specifics.
Exclusive

Relevant or Redundant: Will Tech Kill Display Suites?

Vanessa Croll
7 Min
Exclusive

Missing Heart: Why The Gold Coast Needs a CBD

Phil Bartsch
7 Min
View All >
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
First projects named in a statewide plan to fast-track supply, including thousands of homes in a major growth region…
LATEST
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
2 Min
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
2 Min
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/trophy-asset-paris-marriot-champs-elysees-hotel-sells-for-501-million