Refinancing a boutique hotel group across three cities
A facility maturing in fourteen months, a bank that had gone quiet, and three properties in three cities.
2025
Corporate finance
November 2025
Hospitality
Founder and family
What the owner got.
Facility refinanced
£46m
Term, years, from three
7
Lenders in the process
6
Months from mandate to drawdown
7
Source: facility agreement, November 2025. Shown with the client’s written permission.
The work
What happened, in order.
2
The situation
The group’s facility matured in fourteen months and the incumbent bank had stopped returning calls. Occupancy had recovered, but the accounts still showed the hard years.
Founder and family
Hospitality
310 people
Three cities
What we did
We rebuilt the model property by property, showed lenders the recovery month by month, and ran a competitive process with six lenders instead of one.
What made the difference
Covenants set on the recovered numbers, not the hard years, and a seven year term that matched the refurbishment plan.
Seven months, mandate to drawdown.
The model and options in months one and two, the lender process from month two to four, term sheets and negotiation from month four to six, and drawdown in month seven.
“We went from one bank that would not call back to six that wanted the deal.”
Group finance director, name withheld. Shown with written permission.
Who led it
The partner on this case.
3
Next step
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