The French government announced the eight recipients of its new 'palace' hotel rating May 5, dealing a blow to some of Paris's most famous hotels.
The 'palace' rating is an official designation above five stars...
Ultra-luxury hoteliers can expect new competition from French luxury goods company LVMH Moet Hennessy Louis Vuitton, the Wall Street Journal reports.
LVMH also said it created LVMH Hotel Management to "oversee the group's activities in...
