Starwood Group has sold the Concorde Montparnasse hotel in Paris for around EUR 87 mln. The buyer is Didier Ferré, the founder and director of the Ferré Hôtels Group.

'The transaction has attracted a number of French, European and international players, confirming the asset's position as a must-have Parisian building,' said Gabriel Matar, director of Jones Lang Lasalle Hotels France.

The property includes 351 hotel rooms, a restaurant, bar and a meeting room as well as 72 parking spaces. Jones Lang LaSalle brokered the deal.

The deal follows the divestment by Starwood in 2010 of the Crillon in Paris to a member of the Saudi family for EUR 250 mln and of the Lutetia hotel, also in the French capital, which was bought by the Israeli Alrov Group for EUR 150 mln.