Hotel loan deals
Lloyds Bank has sold around GBP187m of loans against 38 UK hotels. Cerberus has bought GBP147m of the portfolio, paying just GBP90m for loans against 31 hotels, reports Costar Finance.
De Vere progress
Lloyds Bank is about to move on the sale of the De Vere hotel group. JP Morgan are to be hired to advise on the sale of De Vere ‘s hotels, worth up to GBP600m, reports the London Times.
IHG chief financial officer Tom Singer is to leave the group after just over two years in the senior finance role. Singer will be succeeded by Paul Edgecliffe-Johnson, who has been with IHG since 2004 and most recently was CFO of the Europe, Asia, Middle East and Africa regions.
Conrad for Colombia
Hilton has signed to open a new build Conrad resort in Cartagena, Colombia. The 250 room hotel will be the brand’s second in Latin America, and is due to open at the end of 2015.
Choice Hotels has signed its first Hawaii hotel to its Ascend boutique collection. The Equus in Waikiki, Honolulu has put its 67 room hotel into the programme, which offers collective marketing and management support.