Property development contract for a 5-star hotel in Paris

13 December 2016 - New contracts - France

VINCI Immobilier’s hotels division signed a property development contract with the Ascott Group on 21 November 2016, for the transformation of an office complex in the 8th arrondissement of Paris into a 5-star hotel, named the La Clef Champs Elysées – Paris.

The works, due to launch in the 1st quarter of 2017, will involve a major restructuring of the office buildings (i.e. some 4,700 sq. metres); the façades of the buildings will be retained.

Scheduled to open in the 3rd quarter of 2018, the hotel will provide 70 rooms and a fitness centre, a restaurant and a bar.