The welcome
I was escorted to a comfortable chair in an understated yet elegant reception while check-in was quietly and efficiently taken care of. My bags were whisked away to my room while I was taken on a quick tour through the hotel's reception area, beautiful courtyard terrace and spa before being shown to my room by a friendly porter who had plenty of stories to share about the design concept of the hotel. Staff had obviously been well briefed, and the simplicity and particularly warm welcome I received made me feel like I could have been in a friend's living room. A great start.
The neighbourhood
Located in central Paris, a short walk from Saint-Germain-des-Prés and the Jardin du Luxembourg, it is the perfect area for shopping and spending a lazy afternoon drinking coffee and browsing the luxurious boutiques. If you are happy not to be in the immediate proximity of the Champs d'Elysées, it is a great alternative and a nice change of scene, yet still only a short taxi journey away from the tourist buses and attractions. Wonderfully quiet and relaxed compared to most Parisian neighbourhoods I have stayed in.
The scene
La Belle Juliette lies comfortably somewhere between a concept hotel and a boutique hotel. It's impossibly chic yet personal and unassuming - luxurious yet understated, thanks to the interior design of Anne Gelbard, the Parisian expert of "home couture", and architecture by Vincent Bastie. Its concept is based around the life of Juliette Récamier (1777-1849), the famous socialite and mistress of one of the most influential literary salons of French Empire society.
This is not your typical giant five-star with all the trimmings, but instead a rather discreet blend of traditional Parisian flavour and aristocracy offset by playful modern touches - like a hot pink Louis XIV chair, or works of modern art that hang around the hotel. Parisian hotels can be stuffy - especially in this area - but La Belle Juliette has created its own world of "art de vivre" reminiscent of the social salons at the time. There is no sign of pretence - only a genuine taste for art and design.
The service
Parisian hotel staff often have a knack for making you feel like an irritating distraction, so I was pleasantly surprised to observe quite the opposite. Staff were friendly and more than helpful in facilitating ordering taxis and any other requirements. When late for breakfast, I was seated and told the chef would cater for my needs without any fuss on my part. Welcoming and helpful without being overbearing, it is obvious staff have been carefully selected and trained.
The room
Paris hotel rooms are generally tiny. Mine was small but perfectly formed. I didn't feel in any way cramped, although I had a bit of a problem with the layout. The bathroom was separate from the toilet and meant there was no view from my bed, and while the free-standing claw-foot bath was a pleasure to look at, it was rather awkward to shower in, even with the curtain around it. In terms of style, each room has its own personality and theme and, because it is still extremely new, everything is immaculate. Lots of rich mauves and greys, and a beautifully polished hardwood floor set the tone. Instead of a TV there are Apple iMacs with free Wi-Fi access, keyboard and terminal in each room. In fact, this access runs throughout the whole hotel -pleasing, because I always feel a little cheated when internet is charged to the room. The bed and bedding was extremely comfortable, and little extras such as a Nespresso machine and beautifully packaged and well-replenished fig toiletries made me feel well looked after.
The food
Because the neighbourhood aches to be explored for dinner, I tried the breakfast, which was fantastic although limited to either a selection of fantastic pastries and jams or eggs cooked to your liking. Don't go near it if you like your big buffet - there is not a pancake in sight. The best part was to be able to sit outside in the lovely little garden patio reserved for diners.
Loved
The utter lack of pretension.
Hated
The layout of the bathroom within the bedroom was off-putting. And perhaps I would have preferred a slightly larger room. I would consider upgrading in size if I went back.
The verdict
La Belle Juliette is elegant without being stuffy - perfect for a weekend break. I found it a struggle to leave for the day, which was rather strange, considering I was in one of the best shopping areas in Europe.
The bottom line
Double rooms cost from Dh1,571 and the suite Dh3,667 per night, including taxes. Hotel La Belle Juliette, 92, rue du Cherche Midi 75006, Paris (www.hotel-belle-juliette-paris.com; 00 33 1 42 22 97 40).
ktrotter@thenational.ae
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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Karwaan
Producer: Ronnie Screwvala
Director: Akarsh Khurana
Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar
Rating: 4/5
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
THE BIO
Bio Box
Role Model: Sheikh Zayed, God bless his soul
Favorite book: Zayed Biography of the leader
Favorite quote: To be or not to be, that is the question, from William Shakespeare's Hamlet
Favorite food: seafood
Favorite place to travel: Lebanon
Favorite movie: Braveheart
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million