• Asians pick Elysee prize
Hong Kong investor Kai Yuan Holdings has agreed to buy the Marriott Champs Elysees in Paris for USD469m. The company will borrow USD280m from shareholder Du Shuanghua to help fund the purchase from French seller MCE PropCo, reports Reuters. 

Kai Yuan has a market value of USD160m, and will use a combination of borrowings to complete the deal. It aims to target Chinese travellers, to boost occupancy at the five star hotel.
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