Original disclosure @ IFC website
Updated in EWS Apr 25, 2021
Disclosed by Bank Oct 29, 2020
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Destination Group (the “group”), formed in 1997, is engaged in (i) ownership and operation of prime hotels and (ii) operation of branded restaurants through Destination Eats. The proposed investment is a debt facility of up to US$45 million equivalent to support the fund to acquire up to eight distressed 4-star hotels in Thailand (the “project”). IFC’s investment forms part of a US$130 million debt and equity fund raising for the first tranche of Descap1 Fund, which is envisaged to be a US$260 million investment platform at closing.
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