The Hongkong and Shanghai Hotels, Limited (HSH) have announced that it will develop a flagship Peninsula hotel on the prestigious Avenue Kleber in Paris, France. The hotel will be developed on a joint-venture partnership basis with Qatari Diar Real Estate Investment Company, who own the proposed site.

The Paris Peninsula, due to be completed in 2012, will be located in the heart of the city's tourist and business district. The building was once the Majestic Hotel and until recently housed the French Ministry for Foreign Affairs international conference centre.

HSH have committed Euro140 mil to the project, which includes the purchase of a 20 percent minority stake in the building, as well as a share of the re-development costs. The hotel mark's the Asian group's first foray in Europe, adding to a portfolio of luxury hotels and resorts in Asia and the Americas.

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