UK hotel investor Starman has sold its long leasehold interest and ownership of Le Meridien Montparnasse hotel in Paris to Franco-Dutch property group Unibail-Rodamco, the existing freeholder of the property. The financial details were not disclosed.

Le Meridien Montparnasse is a 33-storey four-star hotel and, with 953 rooms and 4,600-m2 of meeting space, is the second largest hotel in Paris and one of Europe's largest conference hotels. Following completion of the transaction, management of the hotel has been taken over by Accor. The hotel has been rebranded as the Pullman Paris Montparnasse.

Starman is a hotel investment company owned jointly by Starwood Capital and Lehman Brothers.

Unibail-Rodamco was advised by White & Case and CMS Bureau Francis Lefebvre. HVS Hodges Ward Elliott and law firm Latham & Watkins acted for Starman.