CBRE Hotels has started the marketing process for France's largest hotel, Le Meridien Etoile Hotel in Paris, the company confirmed to PropertyEU. The asset has a value of around EUR 350 mln and is owned by London-based Starman Hotels.

CBRE Hotels was appointed to advise on the sale of the 1,025-bedroom hotel in the heart of the French capital after Starman Hotels received several unsolicited bids.

Starman Hotels was set up as a joint venture between Starwood Capital Group and Lehman Brothers in 2005.