Shangri-La Asia, parent company of Shangri-La Hotels and Resorts, has acquired the historic palais of Prince Roland Bonaparte with plans to convert it to the Shangri-La Hotel, Paris in late 2008, marking the group's European debut.

The Bonaparte family mansion in Paris' 16th arrondissement will be converted into the capital's first luxury hotel fully owned and operated by an Asian hotel group.

Located at 10, avenue d'Iena, near the Trocadero, the building offers some of the city's finest views of the River Seine and the Eiffel Tower, which is a 15-minute walk away. The Champs Elysees and Arc de Triomphe are also within walking distance. The mansion is located next to the Iena metro station and set amidst a mix of residences, businesses, museums and embassies.

Accommodations in the seven-story building will consist of 140 deluxe guestrooms and suites, ranging from 40 to 160 square meters, some to include private balconies.

Shangri-La Hotel, Paris will be joined by the group's second European hotel in 2010 with the opening of Shangri-La Hotel at London Bridge Tower, situated in the 310-meter (1,016 feet) high, Renzo Piano-designed London Bridge Tower, projected to be the tallest building in Europe.