Staying in the best hotels in Paris just got better as a Saudi-based family moved a step closer to investing €141 million (£111 million) in tourism in the city. The Musallam family has held the leasehold to majestic art deco Hotel Prince de Galles in Paris for the last 16 years and now plans to buy the property.

The deal would put Paris on the map for high-end tourism despite the turbulent economic market, said Ed Blum for the company arranging the financing, Molinaro Koger.

Hotel Prince de Galles

Hotel Prince de Galles is one of the best hotels in Paris. It is currently operated as luxury brand by Starwood Hotels with high ceilings, a traditional courtyard and an impressive Art Deco façade. Built in the 1928, the 138-room hotel still retains some of its original charm. It boasts marble floors and gold leaf chandelier features, at least at present.

Purchaser Sheik Ibrahim Mussallam explained: "We are planning to spend a further €80 million on the refurbishment of the property to ensure that the Hotel Prince de Galles continues to be one of Paris' most desirable hotels."

Where can I find it?

It is central to several of the most popular attractions in Paris on the Champs Elysees – one kilometre away from the Eiffel Tower. It is €12 to get to the top. Gustave Eiffel's iconic structure opened a champagne bar on the third floor this summer, so, you can enjoy the view in style within walking distance from your hotel.

A mere 1.6 km away from the Hotel Prince de Galles is the impressionist attraction Marmottan Monet Museum, which boasts housing the largest collection of Monet's work, including iconic paintings The Water Lilies, The Japanese Bridge and The Weeping Willow.

For guests who like more than a stroll, great attraction around Montematre are just over 3 km away, including Sacre Coeur Catholic church.

Dining and drinking

The Hotel Prince de Galles offers a variety of different settings for diners who can reserve independently to eat in the Jardin des Cygnes, the private extension the Trianon and the Patio. Traditional food in Southern French flavours is on the menu with guests able to retire to the elegant Regency Bar after eating. A full "tasting" menu is available for tables for €99, including servings of omelette, foie gras, pequillos, lamb, fillets, cheese, chocolate and coffee prepared by chef Benoist Rambaud who was taught by Michelin starred Gerard Vie in 1991.

Bottles of wine go for €12 in the Regency Bar, which is oak-panelled and away from the roaring crowd. Sofas are available as well as hard-backs, allowing visitors to sip through a wide menu of cocktails at their leisure. The venue also service tapas and snacks. Non-drinks are also able to enjoy afternoon tea every day from 15:00 to 18:30, local time.

© Copyright