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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.
Santander is selling a €170m portfolio of hotel loans, Project Formentera. The loans are backed by 17 properties located across Spain. Twelve of the 17 hotels are in the southern city of Valencia and tourist hotspot the Canary Islands.
AIG Investments has provided a $140m, 15-year fixed rate loan to TRT Holdings and JMI Realty for the refinancing of the Omni San Diego hotel in San Diego, California. The 200,000 sq ft, 511-room convention center hotel is located at 675 L Street in downtown San Diego’s Gaslamp Quarter, across the street from the San Diego Convention Center.
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