Strategic Hotels & Resorts Inc. said Wednesday it is selling the Renaissance Paris Hotel Le Parc Trocadero to an investment group led by an affiliate of Westmont Hospitality for 35.5 million euros ($51.5 million).
The sale of the 116-room property is scheduled to close within 45 days, the company said.
Strategic Hotels & Resorts is a real estate investment trust that owns and provides asset management of high-end hotels and resorts in the United States, Mexico and Europe.
Shares of the company rose 3 cents to $1.79 in afternoon trading.
