Aareal Bank provides €250m loan for European hotel portfolio

Aareal Bank has arranged a €250 mln loan to refinance a portfolio of nine lifestyle hotels across seven European countries that will primarily operate under InterGlobe's new Miiro brand. 

Miiro Hotels

This financing will support InterGlobe's strategy to upgrade and reposition these acquired properties, including former K+K hotels, into a higher-value, lifestyle-focused portfolio.
Miiro is a brand fully owned by InterGlobe Enterprises UK, part of InterGlobe, a major Indian conglomerate established in 1989 with strong interests in aviation, hospitality, and travel.
The Miiro brand is creating a unique collection of custom-designed hotels in prime European travel locations. Its first hotels opened in Paris and Barcelona in summer 2024, with Templeton Garden in London scheduled for 2025. Additionally, two fully renovated properties in Vienna have opened: one in November 2025 and the other set for early 2026.
Bettina Graef-Parker, managing director Special Property Finance at Aareal Bank, stated:  “We are pleased to celebrate the successful refinancing of the portfolio, as part of InterGlobe’s large-scale renovation and rebranding program. Upgrading existing hotels and repositioning them as lifestyle properties under InterGlobe´s new brand Miiro is certainly a value-add to the portfolio.”
Neena Gupta, CEO of Miiro and executive director of Group Strategy and International Hospitality at InterGlobe Enterprises, added: “We have been deeply impressed by the profound sector knowledge of Aareal Bank’s team, which is grounded in a strong expertise of the hospitality industry. The financing aligns well with InterGlobe’s broader goals: acquiring high-potential European assets, increasing their value, and scaling a boutique-style hotel business.”
DLA provided legal advice, while HVS conducted the property valuations.