Jumeirah Group gets USD1.4 b loans

(MENAFN) Jumeirah Group, the global luxury hotel company and a member of Dubai Holding, announced that it has successfully raised a USD1.4 billion unsecured syndicated loan priced at 2.75 percent, Saudi Gazette reported. The loan will be used for expansion plans as Jumeirah keeps growing in the years ahead as well as for general corporate purposes, at the parent level, for Dubai Holding Commercial Operations Group. In the year to September 2013, average occupancy in Jumeirah's portfolio of hotels has increased by 8 percent globally, compared to the same period in 2012.