| Updated:
Qataris to snap up IHG’s Le Grand hotel in Paris for €330m
InterContinental Hotels Group (IHG) said yesterday it had agreed to sell Le Grand hotel in Paris to Qatari-backed investor Constellation Hotels for €330m (£264m), paving the way for more cash returns for investors.
The sale of the flagship hotel overlooking the Paris Opera House, will see IHG manage the hotel for more than 60 years, with the group earning €4m in fees per year.
The deal is not expected to complete until next year.