MOUNT KELLETT PURCHASES PARIS LE MÉRIDIEN

It was reported this week that private equity firm Mount Kellett Capital Management has purchased the 1,025-room Le Méridien Etoile in Paris, France, from Starwood Capital and collapsed bank Lehman Brothers for €280 million. This is the second hotel Mount Kellett has acquired in the French capital over the last 18 months; it bought the Sofitel Paris Le Faubourg from Accor for €113 million in February 2013.

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