Great Hotels Organisation's operator, Big Worldwide ltd (www.big-worldwide.com) has announced the successful conclusion of its recent capital raise of approximately £1.25m. The financing, which included the sale of common stock, new mezzanine financing and revised and expanded bank debt facilities, will provide capital to continue Great Hotels Organisation's rapid international expansion and technology initiatives and facilitate anticipated merger and acquisition activity.
The financing was led by an affiliate of Gulf+Eastern Advisors, which also acted as financial advisor to Big Worldwide, and included investments by management and other third-parties.
Founded in 1997 to create a series of luxury hotel guides, Big Worldwide has grown into a multi-faceted business with operations in Europe, the United States and Asia.
“Despite the significant economic headwinds buffeting the travel and advertising sectors and the turmoil in the financial markets, I believe our successful capital raising is a vote of confidence in our diversified revenue model, our organic expansion initiatives and our financial prospects,” says Peter Gould, CEO and founder of Big Worldwide.
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For press enquiries please contact:
Brooke Jester - Marketing and PR Executive, Great Hotels Organisation
Note to editors: Big Worldwide
Headquartered in London, Big Worldwide (http://www.big-worldwide.com)k is a global travel, technology and media company with two distinct yet complementary divisions: Great Hotels Organisation (GHO: http://www.ghorg.com) and Big Media and Events (BM&E). GHO operates along two primary business lines: soft-brand marketing alliances for the independent hotel sector and a global hotel representation business. BM&E operates along three primary business lines: Big Publishing, a UK-based media company producing magazines and hotel directories; Big Agency, a digital marketing agency offering e-commerce solutions to the global hotel industry; and Events, which serves the hospitality industry through its highly successful Meeting and Incentive Forums.
About Gulf+Eastern Advisors
Gulf+Eastern Advisors is a Stamford, Conn.based private merchant advisory firm. Gulf+Eastern assists companies in raising debt and equity financing and arranges management buy-outs and other private equity transactions using its own and third-party funds. Gulf+Eastern also provides corporate revitalisation, restructuring and turnaround advisory services and M&A advice. The firm specialises in the challenges and opportunities of small and medium-sised enterprises with a consumer products and service sector focus. For more information about Gulf + Eastern please visit the firm’s website at: http://www.gulf-eastern.com/
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