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Hotels have the chance of returning to pre-covid performance levels, but only if their capital base is properly restructured now, argues Eric Assimakopoulos, founder of Revetas Capital.
The $2.8bn sale to Highgate is potentially the first many large hospitality portfolio sales, but a debt transfer of its size is unlikely to be repeated.
Shiva Hotels' managing director on financing hospitality during covid-19
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The long-term refinancing facility for the Connaught and the Berkeley, two of London’s most luxurious hotels, was arranged by US bank Citi.
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The £180m loan for a new luxury London hotel is one of the few financing deals closed in the sector since the pandemic began.
London & Regional has refinanced its Fairmont Monte Carlo hotel with the French bank.
Hong Kong-based Regal Real Estate Investment Trust (Regal REIT) has announced that its wholly-owned subsidiaries, Bauhinia Hotels Limited and Rich Day Investments Limited, have secured a HK$5.5 billion (€632 million; $710 million) revolving loan facility with nine local and international banks and financial institutions.
The bank provided the three-year, floating-rate loan with two one-year extensions to R.D. Olson Development.
Jones Lang LaSalle (JLL) has appointed Erik Jacobs to its Capital Markets Hotels & Hospitality Group as it expands its lending advisory business across Europe. Jacobs will be cover hotel transactions across the EMEA region from a debt and equity perspective.
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