IHI appoints Numis Securities to explore new financing options

International Hotel Investments plc has announced that it has appointed Numis Securities to help the company explore financing options.

IHI, which runs the Corinthia Hotels, appointed Numis to search for potential capital-raising to enable IHI and its subsidiary developments and operating companies to take advantage of its growing pipeline of potential development project opportunities.

Numis Securities is a boutique investment banking firm that offers financial advisory services on mergers and acquisitions, public bids, initial public offerings, and fundraising. It caters to aerospace and defence, real estate, fast moving consumer goods, media, metals and mining, non-life insurance, oil and gas, retail, technology, and travel and leisure sectors.

In March 2016, Corinthia Finance plc released a €40 million bond issue while IHI plc released a €55 million secured bond in June 2016, secured by the Corinthia Hotel Budapest.

IHI, the publicly traded company of Corinthia, owns 11 five-star hotels in several countries as also offers hotel management services to third parties.

IHI recently acquired Island Hotels group, which ran the Radisson SAS hotel in St George’s Bay and Ghajn Tuffieha, and is now planning its own high-rise towers on the site of the Radisson SAS hotel at St George’s Bay.

In 2015, IHI had announced a six-star luxury hotel project, but without any hint of high-rise, which was expected to comprise a €400 million investment spread over the 76,000 square metres of land occupied by the Raddison and Corinthia hotels.

The Radisson was part of the collection owned by the Zahra family’s Island Hotels, the group acquired for €50 million by IHI plc.