Shelbourne loan sale
Investor Kennedy Wilson has bought half the EUR206m senior debt outstanding on Dublin’s Shelbourne Hotel. The five star Marriott-branded property was bought in 2004 by a group of five Irish investors, and expensively refitted to take it upmarket, reports CoStar.
Jin Jiang change
Simon Zhang has been appointed the new chief executive of Jin Jiang Int Hotel Management. He replaces Bernold Schroeder, who is leaving to head Pan Pacific Hotels Group in Singapore.
Ritz-Carlton has signed a property in Bali as the next addition to its Reserve portfolio. The resort will open in summer 2015, in Ubud, offering guests the choice of 60 villas and suites.
Sands wins debt regrade
Resort developer and operator Las Vegas Sands has rescheduled its debts, as its credit rating has improved to investment grade. The company will pay a higher interest rate on a USD2.5bn loan, in return for extended maturity dates and the removal of covenants, reports Bloomberg.
The Atlantis hotel on the Palm, Dubai has been sold by owner Dubai World. The asset has been bought by the state-owned Investment Corporation of Dubai, reports Reuters.