Agence France-Presse on Friday quoted a hotel union official as saying Starwood Capital’s Group du Louvre is about to sell four of its French luxury hotels to Katara Hospitality, Doha, including the famed Martinez in Cannes.
A meeting is scheduled for Thursday, according to the source, to move forward on the sale of the Martinez, the Concorde La Fayette and Hôtel du Lourvre in Paris, and the Palais de la Méditerranée in Nice. The union official added that the sale has been imminent for awhile.
An email sent to a Starwood Capital executive seeking comment was returned with a "no comment" response.
Katara, formerly known as Qatar National Hotels Co., already owns the Peninsula in Paris, set to open next year, and has stated it is anxious to extend its global hotel ownership reach.
Earlier this year, the Qatar Investment Authority, via its subsidiary at the time still known as Qatar National Hotels, purchased the Royal Monceau, a Raffles hotel in Paris, as well as the famed Raffles in Singapore.