Last month, the French private equity group LBO France acquired a building on the worldfamous Champs-Elysees from Deutsche Bank Real Estate's Global Opportunities Fund in a deal valued at €118 million.
The building, aptly located on the corner of a street named after romantic era party poet Lord Byron, is rich with entertainment opportunities for the fun loving Parisian or out-of-town tourist. Not only does it house the UGC Normadie Cinema; it is also home to the Lido Cabaret.
Operating since 1946, the self-described “world's most famous cabaret” moved to its current home, a 1,150-seat theater, in 1977. Today, for as little as €100 per person, patrons can enjoy dinner and champagne while enjoying what one booking website enthusiastically describes as, “A dazzling show! Topless dancers, lasers, video games, animals, special effects…it's amazing! Las Vegas and cow-boys, tap dancing, Hollywood, Holiday on Ice, flying ladies… An acrobatic juggler, a magician with birds and a musical clown are many attracting points in this wonderful show: C'est Magique!”
This one could bring a whole new meaning to the phrase “hospitality assets.”