• Park Plaza Europe owners refinance

The owners of three of Park Plaza Hotels Europe's London properties have been refinanced to the tune of £195m.

The move follows stalled talks for a sale-and-leaseback covering the bulk of the group's assets.

Goldman Sachs International Bank has taken on the loans previously held by Bank Hapoalim on behalf of joint owners Bea Hotels and the Red Sea Hotels Group.

The properties are the Riverbank Park Plaza, the Victoria Park Plaza and the Sherlock Holmes hotel.

Talks had been underway with the Farnsworth Group to fund a deal worth £350m that encompassed around 30 hotels, including eight in the UK. The complex ownership structure – each hotel is financed individually – has slowed down discussions.

PPHE is the master-franchise holder of the Carlson-owned Park Plaza brand. It has the rights for Europe, the Middle East and Africa.

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