Le Méridien

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Le Méridien is an American upscale, design-focused international hotel brand with a European perspective. It was originally founded by Air France in 1972 and was later based in the United Kingdom. Marriott International now owns the chain. As of June 2021, it had a portfolio of 109 open hotels with 29,439 rooms and a pipeline of 37 hotels with 9,585 upcoming rooms.[2]

Le Méridien
Company typeSubsidiary
IndustryHospitality
Founded1972; 52 years ago (1972)
FounderAir France
HeadquartersBethesda, Maryland, United States
Number of locations
119[1] (December 2023)
Area served
Worldwide
ParentMarriott International
Websitele-meridien.marriott.com Edit this at Wikidata

History

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Foundation and early years

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Air France established Meridien Hotels in 1972.[3] The chain's hotels offered accommodation for Air France flight crews in major hub cities, and the airline promoted the chain and handled reservations for it.[4] The first Meridien Hotels property was a 1,000-room hotel in the heart of Paris, the Hotel Meridien Paris, today known as Le Méridien Etoile.[5] The chain grew to 10 hotels in Europe and Africa within two years and had 21 hotels spanning the globe within six years.

In 1994, as part of a cost-cutting measure, Air France sold its controlling interest in Meridien Hotels Inc., a 57.3% stake, to the UK-based Forte Group for $207 million.[4] Meridien Hotels numbered 58 properties at the time. The sale followed an 18-month battle for control of the company between Forte, German-based Kempinski and French hospitality company Accor.[4] The French government was reported to have favored Accor's bid, wishing to keep the company French-owned, while the European Commission was reported to have favored Forte over Accor and to have pressured Air France to sell to Forte, in exchange for a vital 20 billion Franc bailout for the airline.[6] Forte simultaneously announced their intention to buy the remaining minority stakes in the hotel chain from Crédit Foncier de France, Crédit Lyonnais and other shareholders.[4]

UK conglomerate Granada won a hostile takeover battle for Forte in January 1996.[7] Granada convinced majority shareholders to sell to them, rather than Rocco Forte, son of the company's founder, who feared Granada would strip the company of its assets.[7] Granada assumed control of Forte for $5.9 billion.[7] Soon after, in May 1996, Granada announced its intention to sell the 18 luxury hotels of the Forte Hotels chain, but to retain the 85 hotels in the Meridien Hotels chain.[8] The 2000 merger of Forte and caterer Compass Group, and demerger within a year, passed the Forte Hotels division's three remaining brands (Le Méridien, Heritage Hotels and Posthouse Forte) to Compass.[3]

Development since 2000

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In May 2001, Nomura Group acquired Le Méridien Hotels & Resorts from Compass for £1.9 billion, and Le Méridien was merged with Principal Hotels, which had been acquired in February 2001.[9] In December 2003, Lehman Brothers Holdings acquired the senior debt of Le Méridien.[10]

US-based Starwood acquired Le Méridien on November 24, 2005. A Lehman Brothers and Starwood Capital Group joint venture obtained the leased and owned real estate assets in a separate deal.[3] Over the following five years, 45 of these 130 properties were sold, and 20 new ones were added to the chain.[11]

In September 2016, Marriott gained the Le Méridien brand as part of its acquisition of Starwood.[12] On 16 March 2023, Le Meridien re-opened in Melbourne after previously operating a hotel in The Rialto. The new hotel is placed over the spot previously occupied by the Palace Theatre. The hotel cost $100 million to build.[13] Shortly after, Le Méridien announced the opening of Le Méridien Melbourne, marking the return of the Le Méridien brand to Australia.[14]

Locations

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Le Méridien in Vienna
 
Le Méridien in Paro
North
America
Europe Middle East
& Africa
0Asia &0
Pacific
Caribbean &
Latin America
Total
2016[15] Properties      020      15      027      042      002      106
Rooms 004,473 05,051      7,530 010,973      0271 028,298
2017[16] Properties      022      16      027      045      002      112
Rooms 005,006 05,292      7,530 011,630      0271 029,729
2018[17] Properties      019      15      024      047      002      107
Rooms 003,987 05,010      6,612 012,154      0271 028,034
2019[18] Properties      021      15      023      049      002      110
Rooms 004,480 05,021      6,526 012,903      0271 029,201
2020[19] Properties      022      16      022      047      002      109
Rooms 004,748 04,997      6,588 012,683      0271 029,287
2021[20] Properties      024      16      021      047      002      110
Rooms 005,287 05,156      6,124 012,446      0271 029,284
2022[21] Properties      025      16      023      049      002      115
Rooms 005,705 05,154      6,848 012,486      0271 030,464
2023[1] Properties      025      16      023      052      003      119
Rooms 005,489 05,156      6,841 012,981      0562 031,029

Notable properties

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References

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  1. ^ a b "2023 Annual Report". www.marriott.gcs-web.com. p. 6.
  2. ^ "Le Méridien". Marriott Hotels Development. Retrieved 20 October 2021.
  3. ^ a b c "Le Méridien History". www.maccharlesindia.com.
  4. ^ a b c d Ibrahim, Youssef M. (September 15, 1994). "COMPANY NEWS; Air France Sells Meridien Hotels to Forte". New York Times.
  5. ^ "Paris Hotels: Le Méridien Etoile Reopens with a Splash". Bonjour Paris. 2016-09-26. Retrieved 2017-05-08.
  6. ^ Bruce, Rupert (May 2, 1994). "Forte's bid faces political hurdle: EC watches as Air France sells Meridien". Independent.
  7. ^ a b c "Granada Group Wins Control of Forte". Los Angeles Times. January 24, 1996.
  8. ^ "Granada to sell Forte hotels". The Irish Times. May 23, 1996.
  9. ^ Osborne, Alistair (2001-05-26). "Le Meridien bought by Nomura from Compass for £1.9bn". Telegraph.co.uk. Retrieved 2017-05-08.
  10. ^ Macalister, Terry (2003-12-29). "Lehman finalises £700m Le Meridien rescue plan". The Guardian. ISSN 0261-3077. Retrieved 2017-05-08.
  11. ^ "Businesswire, 30 Nov 2010". www.businesswire.com (Press release).
  12. ^ "CNBC, 23 Sep 2016". www.cnbc.com. 23 September 2016.
  13. ^ Waters, Cara (16 March 2023). "Prices up, guest numbers down: New luxury hotels open in Melbourne". www.theage.com.au. Retrieved 16 March 2023.
  14. ^ "New Opening: Le Méridien Melbourne, the Marriott Brand's Debut in Australia". www.travelmarketreport.com. Retrieved 2023-03-21.
  15. ^ "2016 Annual Report". www.marriott.gcs-web.com. p. 7.
  16. ^ "2017 Annual Report". www.marriott.gcs-web.com. p. 7.
  17. ^ "2018 Annual Report". www.marriott.gcs-web.com. p. 6.
  18. ^ "2019 Annual Report". www.marriott.gcs-web.com. p. 6.
  19. ^ "2020 Form 10-K/A Marriott International". SEC filing. 2 April 2021.
  20. ^ "2021 Annual Report". www.marriott.gcs-web.com. p. 6.
  21. ^ "2022 Annual Report". www.marriott.gcs-web.com. p. 6.
  22. ^ Martin, Susan Taylor. "In Baghdad, lap of luxury isn't all that comfortable." St. Petersburg Times, April 26, 2003.
  23. ^ "Le Meridien Boston to become the Langham, Boston from January 1st 2004" (Press release). Asia Travel Tips. 8 September 2003. Retrieved 2023-12-01.
  24. ^ "ROUND UP-OCI launches GDR". AmCham.
  25. ^ "Casablanca : l'Hôtel Royal Mansour sera démoli pour mieux renaître".
  26. ^ "Hilton withdraws from PGP hotel project". Business Line. Chennai: The Hindu. 9 March 2000. Retrieved 1 Dec 2023.
  27. ^ Rudnansky, Ryan (May 11, 2015). "Conrad Chicago To Be Rebranded Under The Luxury Collection". TravelPulse.
  28. ^ "Amerikansk hotelkæde har ikke opgivet Danmark" (in Danish). takeoff.dk. Retrieved 2023-12-01.
  29. ^ "Le Meridien Piccadilly Exits Marriott System on November 26, 2020". 5 August 2020.
  30. ^ "Fleet & Center LM - Sub Oceanic". 2024-01-30. Retrieved 2024-03-23.
  31. ^ Macdonald, Vanessa (28 June 2007). "Heuston calling". Times of Malta. Archived from the original on 26 November 2015.
  32. ^ "The Palace Hotel - Oxford Street & Whitworth Street". Retrieved 2023-12-01.
  33. ^ "Historic hotels | Unique hotels | Luxury accommodation - Moscow". National.ru. 1995-05-09. Retrieved 2023-12-01.
  34. ^ "Former W Hotel Converts to Le Méridien New Orleans Winter 2014". Hotelnewsresource.com. Retrieved 1 December 2023.
  35. ^ de Bast, Évelyne (13 December 2010). "Le Méridien Montparnasse devient le Pullman Paris Montparnasse". L'Hôtellerie (in French). Retrieved December 1, 2023.
  36. ^ Sharkey, Gemma (30 July 2009). "Former Le Meridien Copacabana hotel sold for £54.5m". Caterersearch.com. Retrieved 1 December 2023.
  37. ^ "HEI Hospitality acquires 360-room Park Hyatt Hotel in San Francisco, Calif" (Press release). HEI Hospitality. May 10, 2006. Retrieved 2023-12-01 – via HospitalityNet.
  38. ^ "Modern Hotel in St Louis | Le Méridien St. Louis Downtown".
  39. ^ "Le Meridien Taipei Hotel - SkyscraperPage". skyscraperpage.com.
  40. ^ Boyle, Theresa (May 28, 2010). "A royal retreat at the King Edward". Toronto Star. Retrieved December 1, 2023.
  41. ^ "Hotel Bristol, A Luxury Collection Hotel, Warsaw" (in Polish). Retrieved 1 December 2023.
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