Search
The Caterer

American hedge fund business takes stake in Arora Hotels

13 May 2013 by
American hedge fund business takes stake in Arora Hotels

US hedge fund Davidson Kempner has acquired a loan portfolio of £200m with independent group Arora Hotels.

It is believed the loans were bought at a 30% discount from the Allied Irish Bank ahead of a refinancing of the company, according to The Sunday Times.

Surinder Arora, the group's founder, is said to have bank loans of £500m. He launched the company in 1999 and has since specialised in airport hotels and supplying rooms for cabin crew.

Arora Hotels has six properties, with more than 2,200 bedrooms. Two of the hotels - Sofitel London Heathrow and Sofitel London Gatwick - are operated under a franchise agreement with Accor.

The group is currently developing the four-bedroom, 212-bedroom hotel Royal Ascot hotel, which it will operate opposite the racecourse.

Caterer and Hotelkeeper 100: Surinder Arora, Arora Hotels >>

Arora to develop hotel at Ascot >>

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.