• Issue 881

Edwardian funded

Hotel owner Edwardian Group has agreed GBP375m of financing to help fund additions and extensions. German funder Aareal has agreed a seven year GBP175m facility, while MetLife has agreed a GBP200m senior debt facility, reports Property EU.

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Amadeus hotel push

Technology specialist Amadeus has made a USD500m acquisition to move into hotel IT systems. The leader in airline bookings has bought Newmarket International to accelerate its hotel sector business, reports Venturebeat.

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Greener Melia

Spanish hotelier Melia has topped an Iberian ranking for its transparency and commitment to reducing its carbon footprint. The group is ranked the top hotel group in the region, and among the top four globally.

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Punta response

Strategic Hotels has rebuffed criticism from shareholder Orange Capital that it undersold assets. In a statement, the company says the USD200m sale of the Four Seasons Punta Mita represented great value at USD1m per key.

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Flora growth

Flora Hospitality is investing over USD200m in four new Dubai hotels. The projects, which will open by late 2016, include luxury serviced apartments and two four star hotels close to the Mall of the Emirates and Dubai airport, reports Trade Arabia.

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