Carlton Hotel: What would you pay?

According to a report in The Times, the Carlton Hotel is about to change hands. The grand old favourite of Cannes’ wealthier visitors is currently being sold together with other properties in the InterContinental Hotels Group. Of the £400 million price tag, the Carlton is estimated to be worth £150 million. The new owner will most likely be Morgan Stanley Real Estate Fund. InterContinental, however, will retain day-to-day management for some time to come (although there are rumours about a senior management figure moving to London).

The Carlton has been in the movies again with France’s “Quatre Etoiles/Four Stars” being the most recent film to use it as a location. It was also completely booked out during the recent Cannes Film Festival, despite the downturn in the movie business. The Carlton is consistently one of the favourite places to hang giant billboards (significantly, one for “Casino Royale” replaced “Da Vinci Code” after the first-night reviews).

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