Alrov purchases landmark Paris hotel

Lutetia Hotel in Paris was once occupied by Nazi officers and later by survivors of concentration camps.

By RON FRIEDMAN
Lutetia Hotel Paris (photo credit: Alrov)
Lutetia Hotel Paris
(photo credit: Alrov)
The Lutetia Hotel in Paris, once occupied by Nazi officers and later by survivors of concentration camps, was recently purchased by Alrov, the Israeli real estate firm headed by Alfred Akirov.
The hotel, situated in the Sainte Germaine area of the city on the Left Bank of the River Seine, and considered a Paris landmark, was purchased by Alrov’s subsidiary Alrov Holdings and Lodgings, Ltd for roughly €142 million.
The hotel, which was built in 1910 as one of the first major Art Deco buildings in Paris, features 230 rooms as well as conference centers, restaurants and a spa. The hotel has hosted many famous guests over the years, including Charles de Gaulle, Pablo Picasso, Peggy Guggenheim and Josephine Baker. This year, in celebration of the hotel’s centennial, it is hosting a series of cultural events looking back at a century of music, art and literature.
When the German Army conquered Paris in 1940, the Lutetia was requisitioned by the occupation forces, and used to house, feed, and entertain the officers in command of the occupation.
When Paris was liberated in 1944, the hotel was abandoned by German troops, and taken over by the Allied forces.
From then until after the end of the war, it was used as a repatriation center for refugees, prisoners of war and survivors of the Nazi concentration camps.
Alrov bought the hotel from the Louvre Group, Europe’s second-largest hotel company.
In a statement, Alrov said that the hotel will continue to be run by its current management company until the middle of 2012, until which time the company will be able to back out of the deal.
“We are very pleased by the purchase of the Lutetia luxury hotel, which is located in the prestigious Sainte-Germaine District and is one of six palaces that operate as luxury hotels in the city of Paris. The hotel, which is celebrating its centennial, has become a legend because of the combination of longstanding traditions, famous guests, many references in literature and its location in the heart of Paris.
“This purchase is another stepping stone in the establishment and branding of Alrov’s luxury hotels as leaders in the most important tourism cities in Europe and the realization of the vision of becoming an international leader in luxury hotels. This third purchase joins two hotels that we are in the process of building in Europe – one, the Conservatorium in Amsterdam, which is scheduled to be opened in the beginning of 2011, and the other, the Café Royal, in London opening in 2012,” said Alrov Hotels division manager George Akirov.
“London, Paris and Amsterdam are among the most toured cities in Europe, enjoying the highest average occupancy rates and average income per room.
These were the parameters that led us to choose these cities and the criteria we set out for ourselves are what led us to purchase singular and impressive properties that have rich heritage, historic significance, and are excellently located,” said Akirov.
Alrov also owns two luxury hotels in Jerusalem – the David Citadel Hotel and the Mamilla Hotel.