All Hotels articles – Page 4
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Online
NTA falls at LXi REIT as group continues with disposal strategy to reduce debt
The value of net tangible assets (NTA) at LXi REIT fell 5.8% during the group’s half-year to the end of September.
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PPHE secures consent for new concept Park Plaza Victoria London hotel
PPHE Hotel Group has secured planning permission from Westminster City Council to develop a second hotel within its Park Plaza Victoria London property.
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Former C&W head of hotel transactions rejoins CBRE
Global real estate adviser CBRE has appointed Rob Seabrook from Cushman & Wakefield as an executive director in its hotels capital markets team.
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LXi closes in on £210m deal to sell 66 Travelodge hotels
LXi REIT is close to selling more than half of its portfolio of Travelodge hotels for £210m.
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Young & Co Brewery to purchase City Pubs in £162m deal
Young & Co Brewery, a managed operator of pubs and rooms to rent across London and the south of England, has reached an agreement to acquire City Pubs for around £162m.
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KE Hotels lands Holiday Inn London-Luton
A private consortium of investors has sold the 124-room Holiday Inn London-Luton Airport Hotel for an undisclosed sum to KE Hotels, which was funded by Metro Bank.
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Landsec looks to prime retail for new opportunities as it reports £193m loss
Landsec is “looking for opportunities to deploy further capital” with a particular focus on prime retail, chief executive Mark Allan said today after the firm posted a £193m loss for the half year ended 30 September.
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Aroundtown sells Hyde Park Hilton for possible resi conversion
German real estate investor Aroundtown has sold the Hilton London Hyde Park hotel in London to an unnamed Dubai-based family office advised by MGI Holdings, for a price believed to be close to £50m.
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Dar Global expands into Saudi Arabia
London-listed luxury international real estate developer Dar Global has announced plans to expand into Saudi Arabia, where it said the tourism sector created “compelling opportunities” to develop hospitality assets.
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Generator Group completes €750m global refinancing
Upmarket hostel operator Generator Group, owned by Queensgate Investments, has completed a circa €750m (£650m) global refinancing with Ares Management, Värde Partners and Waterfall Asset Management.
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Premier Inn owner Whitbread strengthens property team
Premier Inn owner Whitbread has strengthened its construction and property acquisition teams with four new appointments.
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PPHE Hotel Group close to completing £300m pipeline
PPHE Hotel Group, which develops, owns and operates hotels and resorts, is nearing completion of its £300m pipeline, according to its Q3 update.
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Online
Z Hotels secures lending for new London property
Z Hotels has secured a £23m loan from OakNorth and ASK Partners for the acquisition and refurbishment of a mixed-use building on Charing Cross Road in central London.
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Belfast’s ETAP Hotel on market for offers in excess of £7.2m
Belfast city centre’s budget ETAP Hotel has hit the market with agent CBRE Northern Ireland inviting offers of over £7.17m on behalf of the unnamed vendor.
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Town Centre Securities to ramp up development pipeline
Town Centre Securities is looking to step up investment in its development pipeline, which has an estimated gross development value of over £400m, according to its results for the year to the end of June.
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Cohort Capital refinances Covent Garden hotel with £73m loan
Specialist lender Cohort Capital has provided a loan worth £73m to a Qatari-based group for the refinancing of the five-star NoMad Hotel in London’s Convent Garden.
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Leonardo Hotel in Newcastle hits the market for £31.8m
Knight Frank has been appointed to sell the 274-bedroom Leonardo Hotel in St James’ Gate, Newcastle, for £31.8m on behalf of an unnamed UK investment fund.
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LXi REIT cheered by ‘green shoots’ despite reporting valuation fall in trading update
LXi REIT pointed to “green shoots emerging” as it reported a fall in the value of its property portfolio from £3.36bn on 31 March to £3.19bn on 30 September.
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ASK Partners provides £25m loan to support Bristol airport Hilton Hotel extension
Hilton Hotels will add a 50-bedroom extension to its 201-bed Hampton by Hilton property at Bristol airport after the property’s landlord, Ability Group, agreed a £24.6m, 36-month loan facility with ASK Partners.
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Online
Dalata buys Edinburgh office site for £48m hotel conversion
Ireland’s largest hotel owner and operator, the Dalata Hotel Group, is spending £48m to buy and convert an Edinburgh office building from Aviva Life & Pensions UK.