Dubai Holdings, owner of the hotel management company Jumeirah, is negotiating the possible acquisition of a number of hotels in Europe. A recent report suggests both Dubaï Holdings and Saudi billionaire Prince Al Waleed Bin Talal are interested in buying the Hôtel de Crillon near Paris's Champs Elysees. Starwood Capital acquired control of the hotel's owner, Societé du Louvre, when it bought out Taittinger, for nearly 1.2 billion euros last July. It seems that Jumeirah International also had its eyes on the Hôtel Martinez in the French Riviera resort of Cannes, but could face competition from the Dorchester Group.
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