Starwood Capital finalizing deal
Parisian Landmark Hotel de Crillon has been sold to a group of Saudi Arabian investors for an estimated $353.6 million, not including a projected renovation. Swiss luxury brand Kempinski Hotels is rumored to be taking on the management of the 147-room property, marking the company's entry into the French market. Starwood has held the property since its 2005 takeover of Taittinger's hotel and champagne empire.
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