The El Encanto Hotel in Santa Barbara, California, US, has acquired a $45m loan from real estate investment banking firm Sonnenblick-Eichner on behalf of Orient-Express Hotels.
The loan will help fund the redevelopment and expansion of the El Encanto Hotel.
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The 92-room property will open in late 2012.
Orient-Express Hotels owns and operates 49 deluxe hotels, restaurants, tourist trains and river cruises in 24 countries.
