Merrick Real Estate has arranged further financing for Aida Group’s international hotel portfolio which includes the Mercure Hotel in Kensington, London SW10 (https://www.mercurekensington.com), and Alexandria and Sharm el Sheikh in Egypt.
The additional financing will enable Aida Group to refurbish its Aida Beach hotel (http://www.hotelaidabeachelalamein.online) and extend its capacity by a further 152 rooms, and to construct a new 180-room hotel in Marsa Alam on the Red Sea to accommodate increasing business and tourist demand.
The additional financing has been arranged with Laxfield Capital/ICICI Bank plc. The Merrick/Aida lawyers for the transaction were Field Fisher LLP.