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FINANCIAL NEWS
Oman’s SGRF acquires 90 percent stake in Marriott Ambassador Paris
18 Aug 2015
(MENAFN) The State General Reserve Fund (SGRF) of Oman said that it acquired a controlling stake in Marriott Ambassador Paris Hotel by buying 90 percent of its shares.
The transaction was completed through a joint venture with Westmont Hospitality Group (WHG), which will own 10 percent of the hotel shares and will provide the operational oversight to the hotel.
WHG has an experience in managing budget to upscale hotels and currently operates about 350 hotels across North America and Europe under multiple hotel franchise brands.
A destination in the heart of Paris’ illustrious Opera District, the Paris Marriott Opera Ambassador Hotel, Galeries Lafayette is just two blocks away and views of the Eiffel Tower, just a few minutes from the hotel.
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