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Asset:
Staybridge Suites London & Holiday Inn London, Bath Road, Heathrow
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Loan Amount:
£55m
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Year:
2019
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Client:
Lux Propco
- Refinance of a development facility on a term loan for the newly completed 600 room hotel & suites from IHG, divided into Staybridge Suites and Holiday Inn
- Prime location on Bath Road close to all terminals with large surface car park
- The brief was to arrange a competitively priced term loan despite the hotels having no trading history
- A new 3 year facility was delivered with a ratcheted pricing structure aligned with the business plan
