CityReach International has announced a £100m fundraising.
It intends to have 20 so-called internet hotels up and running in major cities, including London, by 20001.
Investors see the warehouse-style units as a way of gaining exposure to both the property sector and the internet. But the race to build such exchanges by companies such as Telecity and CityReach could be hampered by insufficient power to fuel the growth of the web.
The Guardian 05/09/00 page 24
