Dubai Holding, a diversified global investment company with operations in 13 countries, announced today that it has acquired full ownership of the iconic The Westin Paris – Vendome after acquiring Henderson Park’s stake in the property.
The hotel, with its ultra-prime location, is one of the most sought-after real estate assets in Paris, France. Henderson Park and Dubai Holding had acquired The Westin Paris – Vendome in a joint venture back in 2018.
The acquisition of this prime asset further strengthens Dubai Holding’s extensive portfolio of world-class assets in key gateway locations. In addition, it supports the Group’s long-term strategy of global expansion that is focused on boosting its presence in strategic destinations across the world, including North America, the Middle East, Europe and Asia.
The Westin Paris – Vendome is an iconic property that was built in 1878 and is situated in a unique location in the heart of the busiest luxury district in Paris. Overlooking the Jardin des Tuileries, the River Seine and the Eiffel Tower – and a few steps away from Place Vendome, Place de la Concorde, Avenue des Champs Elysees and Le Louvre Museum – the historic setting of the property offers visitors an unparalleled entry to the City of Lights.
The property occupies an area of over 32,000 square metres and houses more than 400 rooms and suites. The Westin Paris - Vendome will continue to operate in partnership with the Marriott International group, under The Westin brand and with the support of Sophos Hotel. Dubai Holding will soon begin to consider future plans for the property after the Paris Olympics in 2024.
In addition to this landmark acquisition, Dubai Holding continues to pursue strategic investments to create long-term and sustainable value for the Group. Dubai Holding is focused on growing its international footprint and diversifying its asset base further through unlocking opportunities across promising sectors and geographies.
News Source: Dubai Media Office