Louvre sells 40 hotels in France

Louvre Hotels Group revealed that it recently sold 40 hotels in France to a small group of investors.

Louvre Hotels Group, La Défense, France, declined to disclose the identity of the investors, the transaction amount or the exact location of the hotels when contacted by HOTELS, and said that the sale is part of the company’s long-term asset management strategy.

The hotels will continue to operate under Louvre brands as franchisees.