Merrick Arranges further Financing for Aida Group Hotels
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.