The owner of Paris’ biggest city-center hotel, the Le Meridien Etoile, is reportedly considering a sale of the property. The hotel is valued at about $450 million.
Mount Kellett Capital Management, a New York-based investment firm co-founded in 2008 by former Goldman Sachs Group executive Mark McGoldrick, has instructed Eastdil Secured LLC to "explore a sale" of the 1,025-room property, anonymous sources told Bloomberg. Representatives of Mount Kellett and Eastdil declined to comment.
In May, Mount Kellett announced a deal with Fortress Investment Group LLC to share management of its funds after being hit by losses in its energy investments.
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