Issue 2571 - 11 November, 2020

    Doha switch for IHG

    IHG has signed to bring its Voco brand to Doha, Qatar. It will rebrand the 396 room Al Rabban Suites West Bay, relaunching the block in early 2021. The hotel will feature a club lounge on the 35th floor, offering panoramic views of the city. This is the second signing for IHG in the region [...]

    SO for Moscow

    Accor has signed to open a SO branded hotel in Moscow. Local partner ANT Development will include the hotel in its Poklonnaya 9 mixed use development in the city’s Dorogomilovo district. Construction of the project is already under way on the 32 storey block. The SO brand currently has nine hotels open, with more than [...]

    Backing for PPHE

    Hotel operator PPHE has agreed a GBP30m revolving credit facility with Santander. The three year deal carries interest on drawings of 2.5% over LIBOR initially, rising to 3% in years two and three. The facility is subject to covenants, and will restrict payment of shareholder dividends. PPHE says the funds will be used to support [...]

    Leumi supports conversion

    Leumi UK has agreed a GBP49m development loan, to create a new central London hotel. The funds will back Manex Properties as it develops the 141-bed Amano Covent Garden hotel. Amano has 15 hotels in Germany, and is expanding into London with support from UK partner Excellion Investments. The hotel, converted from an office building, [...]