Paris entrepreneur to launch boutique hotel group

PARIS Longtime Paris hotelier Olivier de Geffrier is planning to launch a group of 4-star boutique hotels in Paris later this year. The as-yet unnamed group will include about 10 hotels comprising approximately 500 guestrooms in the city.

Due to urban development restrictions, the building of new hotels is nearly impossible in Paris, but opportunities abound for investors to buy existing hotels. De Geffrier, founder and CEO of regional booking site, is seeking investors and developers to partner on the boutique hotels initiative.

The first property in the group is expected to open during the middle of this year in Paris’ Latin Quarter. The properties will be located mainly in tourist districts, he says.