Big news in the hotel world. Hyatt Hotels Corp. has taken over management of a four-hotel portfolio in France which Starwood Capital Group sold to a Qatari investor last year. The contracts begin in April 2013.
The hotels include the Hotel Martinez in Cannes, which will be rebranded a Grand Hyatt; the Palais de la Mediterranée in Nice, which will become the Hyatt Regency Nice Palais de la Mediterranée; Concorde Lafayette in Paris, which will be rebranded Hyatt Regency Paris Etoile; and the Hotel du Louvre which will eventually become an Andaz after an extensive, multi-year renovation.
Between the Cote d’Azur and Paris, these four hotels occupy some prime real estate in highly touristed destinations. The Hotel Martinez has long been a favorite of Hollywood stars attending the Cannes Film Festival, while the Concorde Lafayette boasts a bar, “La Vue,” with some of the best views over the City of Light.