MUI Accepts RM910 Million Loan To Refurbish And Upscale Its UK Hotel

NUI Berhad has announced that Plaza On Hyde Park Limited, a wholly-owned subsidiary accepted a new term-loan facility of £152.5 million granted by CF Hyde Park LP,

The group said the loan is aprtly to refinance the existing term loan facility of Corus Hyde Park Hotel and to finance the renovation and refurbishment to an upper-scale four-star international hotel brand.

Currenntly the Corus Hyde Park Hotel caters to both business and leisure travelers while its selling point includes its serene location and excellent customer service. MIU said over the past two financial years, the Hotel’s occupancy rates have sharply increased from 39% in the financial year ended 30 June 2022 to 60% in the financial year ended 30 June 2023.

MUI said the redevelopment is necessary to sustain its long-term profitability and market relevance. After the Redevelopment, the Hotel will be upgraded to an upper-scale four-star international hotel brand.

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