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Rs4.2billion deal for new hotel called ‘Lagoon Gardens’

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Rs4.2billion deal for new hotel called 'Lagoon Gardens'
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Barrows, a provider of hotel investment and advisory services for hotels in the Middle East and Africa, will advise West African developer Atalian in raising financing for a high exclusive hotel resort in Mauritius called ‘Lagoon Gardens.’

Barrows will also raise the funding within its institutional and banking network combined with a registered bond structure with the developer.

Both parties have reportedly signed into a capital acquisition agreement for the realization of this project. The total asset value of the deal is USD95 million (Rs4.2billion).

In addition to advising and raising capital, Barrows will advise in contracting a 5 star hotel operator to operate the hotel activities for Lagoon gardens.

As soon as all agreements are signed and the capital has been provided, the construction period will start, said Chairman Erwin Jager of Barrows Hotel Enterprises.

Barrows Hotel Enterprises internationally manages over 10,000 hotel rooms in more than 10 countries.

The company started in 2008 as a real estate investor in the residential market in Dubai. It is today active in the entire MENA Region.

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The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.