by Lisa A. Grimaldi | August 03, 2011

 According to news reports, Accor has sold the 135-room Sofitel Arc de Triomphe in Paris to a consortium of French private investors for approximately US$500 million. Accor will continue to run the hotel under a long-term management agreement. The property, which has six meeting rooms, will undergo a US$36 million renovation as part of the transaction.