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A Chinese bank gives a 2.5 Bn € credit to Louvre Hotels Group

The hotel group signed a strategic agreement with the Chinese bank ICBS, which gave it a line of credit for 2.5 billion euros on three years to back its investments and accelerate its development strategy.

A few months after its takeover by Jin Jiang, Louvre Hotels Group is offered a line of credit for 2.5 billion euros over three years by the Chinese bank ICBS. This enveloppe will allow the hotel group to accellerate its development strategy in France and in Europe, by strengthening its organic and external growth policy as welll as its renovations program.

In France, Louvre Hotels Group will, as expected, strengthen its positioning in the centers of large cities and accellerate dévelopment of its four-star brand Golden Tulip. In Europe, the groupe particularly plans to launch the hotels Première Classe in Germany, which remains a priority market, and to pursue the development of its brands Campanile and Golden Tulip in the United Kingdom. The 2.5 billion euros will also make it possible to strengthen the renovations program in 2012 and to amplify the unfurling of innovations in the area of customer relations, with the installation of new F&B concepts and the labelling of Wifi networks. With this enveloppe, Louvre Hotels Group also hopes to acquire portfolios of exisiting hotel groups to optimise synergies and strengthen its international presence.

"With this injection of capital, Louvre Hotels Group has the means to attain its goals and we will not prohibit ourselves within this context from listening for opportunities in France, Europe and even internationally to complete our network. We also pay attention to the changing expectations of our clients, whose consumer habits encourage us to be increasingly innovative," rejoinces Pierre-­Frédéric Roulot, President and CEO Louvre Hotels Group.

Also read:

  • Jin Jiang completes the purchase of Groupe du Louvre for €1.3 billion
  • Louvre Hotels, Jin Jiang Hotels and Magnuson Hotels form a distribution alliance

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