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Surinder Arora rebuilds Arora Group after near collapse in 2008
Arora Group says its portfolio is now valued at more than £3B, with 8,500 rooms across the UK and a plan to pursue a £25B Heathrow expansion.
Housing and property entrepreneur Surinder Arora described the financial stress he faced in 2008, when heavy borrowing to expand left his business under pressure after a debt provider sold his loans to a hedge fund. According to Bisnow, Arora said he feared defaults could put his house and his family assets at risk.
Bisnow reports that Arora ultimately decided to fight, and later pulled the business back from the brink. Arora Group today operates or has rooms under construction in a portfolio valued at more than £3B, with 8,500 rooms mainly around Heathrow and Gatwick, as well as more properties in central London.
The outlet also said the company employs more than 3,000 people across property ownership, construction and hotel operations, and that Arora shared his story at Bisnow’s UK Hotel Real Estate Summit at the Novotel London West.
Arora told the audience he is planning what he called his final major project, building a £25B extension to Heathrow itself, after first entering hotel ownership through a bed-and-breakfast near the airport.