The Port Palace Hotel's management group has changed its name.
Located in the port on the Grand Prix track and with a view of the Rock and the Prince's Palace, the Port Palace is one of Monaco's boutique, luxury hotels. It has been one of the Principality's little gems since it opened in 2003, and just this year, the hotel restaurant's chef Patrick Raingeard was awarded a Michelin star [1].
For the past 3 years the Port Palace has been managed by Stein Group [2], a leader in the European small luxury hotel market and set up in 2001 by David Stein. With an eye to expanding into the Asian market, a 50% stake in the group was sold to Singapore real estate investors KOP Capital last summer for 250 million US dollars. A similar amount of money will now be used to buy hotels in large Asian cities such as Singapore, Hong Kong, Tokyo and Beijing. Another outcome of the deal is that the Stein name will now be dropped in favour of the brand Franklyn Hotels and Resorts [3].
Whatever the name of the management company, the name of the hotel remains the same, as does the Port Palace's status as one of the best hotels in Monaco.
Links:
[1] http://maboum.com/page-1575
[2] http://www.steingroupinternational.com/index.php
[3] http://www.franklynhotels.com/