Arora Cleared to Build His Third Hotel at Heathrow
Posted on: Tuesday, 12 July 2005, 18:00 CDT
RAGS-TO-RICHES developer Surinder Arora is to build a 600-room hotel at Heathrow airport's new Terminal 5 at an estimated cost of Pounds 100 million.
Airports operator BAA has granted Arora Holdings a 150-year lease at an initial rent of Pounds 5 million for the five-star hotel. It will operate using the Sofitel name from hotel giant Accor, marking the first UK licensing of the hotel name to an outsider.
The deal will make Arora Heathrow's biggest hotelier with three sites under its control. Surinder Arora arrived in London from India in 1972 as a penniless 13-year-old. His first job, in 1977, was as a BA office clerk with hopes of becoming a pilot.
Today BA books out the Arora International on the A4 for its staff. A letter of support from BA is thought to have helped seal the Terminal 5 deal.
Allied Irish Banks and Royal Bank of Scotland are providing finance.
Source: Evening Standard; London (UK)
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