Starwood poised to sell Paris' Méridien hotel for €300m

Starwood Capital is reportedly about to sell the Méridien Etoile hotel in Paris to US investment firm Mount Kellett Capital Management for around €300 mln.

Located in the 17th district of Paris near the Palais des Congrès, the four-star hotel is expected to change hands before the summer, according to a news report by French newspaper Le Figaro.

Mount Kellett is a New York-based investment firm founded in 2008 by two former Goldman Sachs executives.

With 1,025 rooms the hotel is believed to be the largest in France and is currently operated by Starwood Hotels & Resorts with another four or five years remaining.