Le Méridien

Le Méridien is an 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
TypeSubsidiary
IndustryHospitality
Founded1972 (1972)
FounderAir France
HeadquartersBethesda, Maryland, United States
Number of locations
115[1] (December 2022)
Area served
Worldwide
ParentMarriott International
Websitele-meridien.marriott.com

History

Le Méridien Istanbul Etiler Hotel, designed by Emre Arolat

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]

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] The brand has since been positioned as a premium lifestyle product distinguished by a mid-century modern design aesthetic and destination-centric events and programming.

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]

Worldwide presence

Le Méridien in Montparnasse
North
America
EuropeMiddle East
& Africa
0Asia &0
Pacific
Caribbean &
Latin America
Total
2016[15]Properties     020     15     027     042     002     106
Rooms004,47305,051     7,530010,973     0271028,298
2017[16]Properties     022     16     027     045     002     112
Rooms005,00605,292     7,530011,630     0271029,729
2018[17]Properties     019     15     024     047     002     107
Rooms003,98705,010     6,612012,154     0271028,034
2019[18]Properties     021     15     023     049     002     110
Rooms004,48005,021     6,526012,903     0271029,201
2020[19]Properties     022     16     022     047     002     109
Rooms004,74804,997     6,588012,683     0271029,287
2021[20]Properties     024     16     021     047     002     110
Rooms005,28705,156     6,124012,446     0271029,284
2022[1]Properties     025     16     023     049     002     115
Rooms005,70505,154     6,848012,486     0271030,464

References

  1. "2022 Annual Report". www.marriott.gcs-web.com. p. 6.
  2. "Le Méridien". Marriott Hotels Development. Retrieved 20 October 2021.
  3. "Le Méridien History". www.maccharlesindia.com.
  4. 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. "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.
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