White Lotus Production Paid Millions to Use Paris's Lutecia Hotel
Translated & summarized from Globes by baba
The production of "The White Lotus" paid an estimated 28 million shekels to film at Alfred Akirov's Lutecia Hotel in Paris. The hotel was closed to the public during filming, with the production covering all costs. Separately, the Investment Houses Association called for reduced financial sector barriers, and insurance company Migdal hired executives to expand its agency acquisitions. Several new appointments were also announced in real estate and the beverage industry.
The story in 6 lines · by baba
- White Lotus production paid an estimated 28 million shekels to film at Paris's Lutecia Hotel.
- Alfred Akirov owns the Lutecia Hotel, which he purchased for 135 million euros and renovated.
- The hotel was closed to the public during filming, with the production covering all expenses.
- Investment Houses Association CEO urged removal of financial sector competition barriers.
- Migdal Insurance hired former Menora Mivtachim executives to acquire more insurance agencies.
- Crassus Real Estate and Lipaora-Tabori announced new executive appointments.
The production of the hit series "The White Lotus" paid approximately 28 million shekels (about 7 million euros) to use the luxury Lutecia Hotel in Paris for filming its new season. Businessman Alfred Akirov, owner of the Lutecia Hotel through his real estate company Alrov, revealed in an interview with Globes that the production team initiated the filming at his hotel. Akirov purchased the hotel in 2010 for 135 million euros and invested a similar amount in renovations before reopening it in 2019.
During the filming in August, the hotel was closed to the public, and the production team occupied half the rooms, paying for all hotel services, including restaurants. Akirov noted that August is a slow month for tourism in Paris, making the timing opportune. The Lutecia Hotel, over 100 years old, features around 185 rooms and suites. The hotel hopes the series will boost interest among wealthy global travelers, as the average room rate last year was 1,233 euros per night.
In other news, the Investment Houses Association held its annual conference where CEO Nimrod Sapir urged the government and Ministry of Finance to remove barriers hindering competition in the financial sector and allow investment firms to expand their activities. Sapir highlighted the sector's growth, with assets under management in the five largest firms increasing from approximately 480 billion shekels in 2015 to about 1.1 trillion shekels currently.
Additionally, Migdal Insurance is strengthening its insurance agency operations by hiring two former senior executives from Menora Mivtachim, Itay Yaakov and Ronen Eidel, to help acquire additional agencies. The collaboration will focus on identifying, acquiring, and improving insurance and financial agency activities. In real estate, Crassus Real Estate announced several new appointments, including Amit Zonenstein Hershkovitz as legal counsel and company secretary, Dudi Dvir joining management, and Yedidiah Frankel appointed VP of Information Systems. Galit Mor Shorrer has been appointed Marketing Department Manager at Lipaora-Tabori, a beverage company.