Skip to content
AidData logo

Overview

CDB provides EUR 60 million loan for the acquisition of a 100% equity stake in the St. Regis Bora Bora Resort from SARL Société Hôtelière Motu Ome’e

Commitments (Constant USD, 2023)$72,378,693
Commitment Year•2016Country of Activity•French PolynesiaDirect Recipient Country of Incorporation•China (People's Republic of)Sector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Apr 1, 2016
Start (actual)
May 20, 2016
End (actual)
May 20, 2016

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% Chinese ownership

Funding agencies

State-owned Policy Banks

  • China Development Bank (CDB)

Receiving agencies

Private Sector

  • HNA Tourism Group Co., Ltd.

Loan description

CDB provides EUR 60 million loan for the acquisition of a 100% equity stake in the St. Regis Bora Bora Resort from SARL Société Hôtelière Motu Ome’e

Interest type•Unknown

Narrative

Full Description

Project narrative

On June 4, 2015, HNA Tourism Group Co., Ltd. entered into a strategic framework cooperation agreement with the Government of French Polynesia to further enhance cooperation in the development of tourism industry in Tahiti. Then, on April 1, 2016, China Development Bank (CDB) issued a loan worth approximately EUR 60 million to HNA Tourism Group Co., Ltd. to facilitate its acquisition of a 100% equity stake in the St. Regis Bora Bora Resort from SARL Société Hôtelière Motu Ome’e. Pursuant to the so-called Organic Law of 2004, any foreign (i.e., non French-controlled) investment in French Polynesia relating to the acquisition of real estate rights, fishing, aquaculture, pearl and mother-of-pearl, or the audiovisual or telecommunications sectors requires prior authorization from the French Polynesian Government. HNA Tourism Group Co., Ltd. received such authorization and it was published on April 21, 2016. The acquisition was completed on May 20, 2016. St. Regis Bora Bora Resort is located on the northeast of Bora Bora. The resort boasts 91 rooms, including the famous overwater villas which sit on stilts over the sea. Every room of the resort is equipped with a private lounge, outdoor shower, balcony, swimming pool and so on, and a private beach facing Bora Bora’s sparkling lagoon.

Staff comments

1. The French project title is Le projet de rachat d’hôtels par Hainan Tourisme (HNA). 2. In April 2016, Mr. Wang Feng, Director of International Affairs and Cooperation of China Development Bank, noted that his institution had approved funding for a ‘hotel buyout project’ by Hainan Tourism [projet de rachat d’hôtels par Hainan Tourisme (HNA).