On December 20, 2010, Starwood Capital Group, through its subsidiary Société du Louvre, sold to a Saudi investor member of the royal family all of the shares comprising the share capital of the company which owns the Crillon hotel. Built in the 18th century on what would become the Place de la Concorde in Paris, the Crillon hotel is one of the world’s oldest and most prestigious palaces. Shearman & Sterling advised Société du Louvre.