SINGAPORE — In a strategic acquisition that further solidified its position as one of the leading players in the global real estate industry, City Developments Limited has announced a €240 million acquisition of the Hilton Paris Opéra hotel ahead of the 2024 Olympic Games.
The hotel was designed by renowned French architect Juste Lisch and was the first in the world to have guest lifts when it opened during the 1889 World’s Fair in Paris. It underwent an extensive renovation in 2015 under a €43.4 million refurbishment programme, and achieved the BREEAM In-Use Very Good certification for sustainable building performance two years prior.
Paris will be hosting the Olympic Games from Jul 26 to Aug 11 and the Paralympic Games from Aug 28 to Sep 8, with the French capital expecting to welcome more than 15 million visitors during this period. Paris is a popular and one of the world’s most attractive tourist destinations averaging between 38 to 40 million visitors annually.