Starwood Capital and Jin Jiang International Holdings Co., Ltd. announced that the sale of Groupe du Louvre has been completed. This includes Louvre Hotels Group, Baccarat Crystal and Annick Goutal fragrances.
The agreement "will strengthen the development of the hotel and tourism industry between France and China and the international expansion of the two groups' brands," said Jin Jiang International and Starwood Capital in a press release.
On January 1, 2014, Jin Jiang International was the 13th international hotel group in terms of number of rooms, with 128,952 units in 918 hotels (data from MKG Hospitality, hospitality consulting group founded by Georges Panayotis). (Read our report). This purchase will enable Jin Jiang International to integrate more than 1,100 hotels and 91,154 rooms in 46 European countries into its international network and enter the Top 10 worldwide.
- Jin Jiang completes the purchase of Groupe du Louvre for €1.3 billion
- Jin Jiang International should buy Groupe du Louvre and Louvre Hotels Group
- Bernold Schroeder veut faire passer Jin Jiang dans le top 10 mondial
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