A famous Paris hotel will be bought for 400 million euros

Elysee Palace building
The headquarters of HSBC is situated in a building of a former luxury hotel in Paris
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One of the most famous hotels in Paris may acquire a second life in the nearest future. Intention to buy the building, where in former times a famous hotel Elysee Palace was located, was mentioned in the French business weekly Challenge. A buyer of the building will be Emir of Qatar, who has offered 400 million euros for it.

To date, the building of the former hotel Elysee Palace, located on Champs Elysees in the heart of Paris, is owned by HSBC bank. French headquarters of HSBC is now situated in the building.

Hotel Elysee Palace in the early 20th century was considered one of the most luxurious hotels in Paris. Opening of the hotel took place in 1897. Having existed before 1920, the hotel eventually went bankrupt. The building, which housed one of the most luxurious hotel rooms France, was leased for offices.

Hotel Elysee Palace during its short history has repeatedly managed to be in the center of historical events. In particular it is known that in 1917 the famous Mata Hari was arrested for spying for Germany. Some members of HSBC reported seeing the ghost of Mata Hari in the corridors of the former hotel.

According to the number of British publications, an acquisition of the hotel from HSBC has received approval from the bankers. HSBC bank planned to move to a more modern building and the proposal of Emir of Qatar came very opportunely.

After processing the transaction a large-scale reconstruction will take place in the building of the Elysee Palace. It is expected that the restoration of Elysee Palace Hotel will take five years. Upon its completion Elysee Palace will once again become one of the most luxurious hotels in Paris with almost the ideal location. Within the framework of reconstruction it is planned to create a number of boutiques and restaurants on the first floor of the hotel. According to preliminary data, the capacity of the hotel will be 200 rooms. And it is not excluded that the hotel will get a new name.

Photo: www.guardindustrie.com

Date: 23/10/2009


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