The InterContinental Paris Le Grand has made news with the bid by Constellation Hotels Holding, part of the Qatar Holding investment fund, to purchase the 152-year-old hotel.

The new owners are set to spend $80 million upgrading the hotel — and there’s good news for IHG Rewards Club members — IHG has agreed to continue to operate the hotel for an undisclosed period of time.

The hotel has been an InterContinental since 1982 and IHG Rewards Club members can claim a free night for 50,000 points at the highest redemption category, Category 9. Constellation Hotels owns other properties in France including Hyatt Regency Paris Etoile and the Grand Hyatt Cannes Hotel Martinez.