• PPHE secures funds

Hotelier PPHE has refinanced loans against eight of its Park Plaza branded hotels in London and Holland. The agreement with Aareal Bank is a five year facility that will also cover refurbishments, and replaces three loans with earlier expiries.

The agreement is split between GBP167m in sterling and a Euro tranche of EUR153m. Aareal has also committed to refinance the recently completed art’otel in Amsterdam.
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