The stock LT1 stat is 180*---the cooling fans are controlled by the PCM and come on low speed at around 218-220* and high speed at 228*---so by factory design these cars run much hotter than most "new" C4 owners are used to seeing. I'm old school and by old school standards that is HOT but once again it's by design (lower emissions)
As eddie20890 said be sure the radiator is clean inside and out--- the air intake is close to the road and will suck up debri and block air flow across the condenser and radiator fins. If the cooling system is in good shape and you can't stand the above temp specs ( I could not)---then as was also stated in the above post the PCM can be programmed to turn on the fans at a lower temp.
A 160* stat or removing the stat (don't do that) will not lower operating temps in the summer heat--- reprograming the PCM will---I have the stock stat and the PCM reprogramed and run around 190* in the summer (with or w/out AC) and 183-184* in the winter.