Versailles Complex To Include Luxury Hotel
The building was built in the 1680s by the architect Jules Hardouin-Mansart and served as an officers' mess until 2006. Reports say that the venerable building isn't in the best shape. Ivy will pay for the renovations which are estimated to cost $7.3 million and the company will pay Versailles an annual fee to lease the building. The move is part of a new way that France is looking at its treasures, finding ways to get them to generate enough money to pay for their upkeep. The new hotel is expected to open at the end of 2011.