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First Westin for Downtown Paris

Starwood Hotels & Resorts Worldwide today announced a new Westin Hotel in central Paris. Starwood has entered into a long-term management agreement with an affiliate of GIC Real Estate Pte Ltd to operate the historic landmark hotel which was formerly the Intercontinental Paris Hotel. The Hotel will convert to The Westin Paris on October 10, 2005 and is expected to feature all Westin brands standards by the end of the year. The Westin Paris will be the first Westin in downtown Paris and the fifth Starwood property in France. When the hotel was first opened in 1878 it was celebrated as the most exclusive property of its kind and was regarded as a national treasure of France’s Second Empire. The hotel is an enviable location, offering a breathtaking view of the Tuileries Gardens and many of Paris’ most recognized and treasured landmarks. Just steps from the Place de la Concorde and the elegant Rue du Faubourg St-Honore, the hotel is ideally located in the government and business neighborhood and is minutes away from the largest shopping and cultural areas of the city.
The newly converted Westin Paris will feature 438 rooms, including 76 Suites. The hotel will offer some of Paris’ largest, most luxurious and exclusive meeting facilities, with a 4,300 square feet ballroom, as well as 11 other meeting rooms, providing a total of 21,500 square feet of versatile meeting space. The hotel will also boast a gourmet restaurant with a beautiful terrace and bar. The hotel will remain open for business throughout the conversion period.
“This project is a dream come true for Westin as Paris has been a strategic target for us for many years,” said Sue Brush, senior vice president, Westin Hotels & Resorts. “We are honored to be appointed by GIC Real Estate, a premier global real estate owner, to be the operator of this historical landmark hotel. The Westin Paris is a symbol of our commitment to France and another important step in the expansion of the Westin brand in Europe.”
The hotel underwent a Euro 46 million refurbishment in 1998 and the owners will invest an additional Euro 12 million to convert this property to Westin Brand standards. The new Westin Paris will feature all of Westin’s signature standards and products including the Heavenly Bed(R), Heavenly Bath(R), and the newly launched WestinWORKOUT(R) program.
Dr Seek Ngee Huat, President of GIC RE said, “This is a rare opportunity to purchase a freehold, prime hotel in Paris. Given our confidence in the reputation of the property, its superb location and the strength of the premier ‘Westin’ brand, we expect strong growth in light of the anticipated recovery in the Paris hotel market.”