• Bank of China backs Splendid hotel

The Bank of China is reported to have provided the Splendid Hotel group with a £50m development loan to build the 254-room InterContinental London Westminster.

The hotel, which will open in 2011 near New Scotland Yard, will have a final value of at least £100m. The construction costs are estimated at between £180,000 and £200,000 a room.

See the full story here:
http://www.independent.co.uk/news/business/news/bank-of-china-beats-local-lenders-to-finance-163100m-luxury-london-hotel-2052823.html

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