Prince Alwaleed bin Talal, the Saudi sheikh who has stakes in Euro Disney and Citigroup, is looking to buy another hotel in Paris in addition to his George V property and could bid for the Paris InterContinental.

A new joint venture formed by Kingdom Holdings, the prince's investment vehicle, Bank of Scotland, and Fairmont Hotels & Resorts, is eyeing luxury hotels across Europe, including the Paris InterContinental. The hotel is being sold by InterContinental Hotels Group as part of a ?2bn ($3.74bn) asset disposal programme.