NH Hotel Group extends maturity on 236 million credit until March 2023
NH Hotel Group has agreed the extension of its 236 million Syndicated Revolving Credit Facility from September 2021 until March 2023 with all the lenders.
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Corporate Finance News
Casai Raises $48 Million to Build a New Kind of Hospitality Brand
Casai, an emerging markets hospitality brand that offers living spaces suited for the nomadic generation, has announced a $48 million Series A including $23 million in equity funding and up to $25 million in debt financing from TriplePoint Capital.
Swiss-Belhotel International Announces Group Restructuring
Swiss-Belhotel International continues to expand its management in response to the market and the impact of Covid-19
IAC Invests $1 Billion for 12% Stake in MGM Resorts International
IAC has announced its accumulation of a 12% interest in global hospitality and entertainment company MGM Resorts International for an aggregate of approximately $1 billion.
CityHub signs financial partnership with NIBC and ABN AMRO
As the travel industry faces some of the most important challenges in its history, CityHub (the hotel/hostel hybrid brand), has announced its financial collaboration with Dutch banks NIBC and ABN AMRO to kickstart its international expansion. The new funds will support and accelerate CityHub development plan, to grow its portfolio to ten locations.
Radisson expects cash injection
Radisson expects to receive from its current shareholder, Aplite Holdings AB, an additional cash injection up to €100m in the form of a subordinated shareholder funding to cover the cash needs required for the ongoing operations during the COVID-19 crisis.
Royal Caribbean Announces Proposed Offerings Of Senior Guaranteed Notes And Senior Convertible Notes
Royal Caribbean Cruises has announced that it has commenced a private offering of senior guaranteed notes to be issued by the company due 2023 for an aggregate principal amount of up to $1.0 billion and a concurrent private offering of senior convertible notes to be issued by the Company due 2023 for an aggregate principal amount of up to $1.0 billion.
Sands China prices $1.5 Billion of Senior Unsecured Notes
Las Vegas Sands Corp has announced that its majority owned subsidiary, Sands China, has priced $800 million of 3.800% senior notes due 2026 and $700 million of 4.375% senior notes due 2030.
Statement on Marriott International COVID-19 Update to Associates
The COVID-19 pandemic is having a more severe and sustained financial impact on Marriott business than 9/11 and the 2008 financial crisis, combined. From the first warning signs of this unprecedented event, the company took a number of steps to adapt and strengthen its business including reducing costs significantly and improving its liquidity.
$7.4 Million Awarded in Relief Grants to Airbnb Superhosts
On March 30th, Airbnb announced the Superhost Relief Fund to provide grants to tenured hosts who are facing financial challenges because of travel disruption and other impacts of the global COVID-19 crisis. Today, Airbnb is providing an update to let the community know that they have awarded $7.4 million in grants to over 4,000 hosts around the world. Airbnb continues to send out invitations and review applications in order to distribute the remaining $9.6 million in the Fund.
North Point Hospitality Group secures financing for Marriott tri-branded new property in Nashville
Nashville is about to gain 468 hotel rooms next to the Music City Center convention facility now that financing is set and construction nears on the first Marriott tri-branded property in the U.S.
RLJ Lodging Trust strengthens balance sheet by refinancing over $1.0 Billion of debt
RLJ Lodging Trust has recently announced that it successfully refinanced over $1.0 billion of debt consisting of a $400.0 million unsecured term loan, a $400.0 million revolving credit facility, $148.5 million in secured loans provided by Wells Fargo Bank, N.A., and an $85.0 million secured loan provided by PNC Bank, N.A.
MGM Resorts International announces pricing of IPO by MGM Growth Properties LLC
MGM Resorts International today announced the pricing of the initial public offering of 50,000,000 Class A common shares representing limited liability company interests by its subsidiary MGM Growth Properties LLC (MGP) at a public offering price of $21.00 per share for gross proceeds of $1.05 billion.
Hilton Worldwide announces intention to spin off Real Estate and Timeshare businesses
Hilton Worldwide today announced plans to enhance long-term shareholder value by spinning off the bulk of its real estate business into a publicly traded real estate investment trust (REIT) and by spinning off its timeshare business, Hilton Grand Vacations (HGV), as a separate publicly traded company.
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