Dubai Holding acquires full ownership of The Westin Paris – Vendôme

Dubai Holding has acquired a full ownership of the The Westin Paris – Vendome, after taking over Henderson Park’s stake in the property.

Henderson Park, a private real estate fund manager, and Dubai Holding had acquired the property in a joint venture back in 2018.

We are pleased to announce that we have taken full ownership of #TheWestinParis – #Vendome after acquiring Henderson Park’s stake in this iconic property.

#DubaiHolding #ThisIsDubaiHolding #Portfolio https://t.co/Y2JxRjHsZv

— Dubai Holding (@dubaiholding) February 27, 2023

The acquisition further strengthens Dubai Holding’s portfolio of assets in key gateway locations. It also supports the “group’s long-term strategy of global expansion that is focused on boosting its presence in strategic destinations across the world, including North America, the Middle East, Europe and Asia”, the company said in a statement.

The diversified global investment company, Dubai Holding has operations in 13 countries and employs over 20,000 people. It operates a portfolio of over Dhs130bn worth of assets that support the diversification and sustainable growth of the emirate’s economy across ten key sectors. These include real estate, hospitality, leisure and entertainment, media, ICT, design, education, retail, manufacturing and logistics and science.

The Westin Paris – Vendome was built in 1878 and is situated in the heart of the busiest luxury district in Paris. Overlooking the Jardin des Tuileries, the River Seine and the Eiffel Tower, the property is a few steps away from Place Vendome, Place de la Concorde, Avenue des Champs Elysees and Le Louvre Museum.

The property occupies an area of over 32,000 square metres and houses more than 400 rooms and suites. The Westin Paris – Vendome will continue to operate in partnership with the Marriott International group, under The Westin brand and with the support of Sophos Hotel.

Dubai Holding said that it “will soon begin to consider future plans for the property after the Paris Olympics in 2024”. It also continues to pursue strategic investments to create sustainable value for the group.

Also read: Aldar signs strategic JV with Dubai Holding, enters Dubai real estate market