Orient-Express Hotels completes €30 million refinancing
A €30 million refinancing has been completed by Orient-Express Hotels on two of its luxury hotels, the Michelin starred Le Manoir aux Quat’Saisons in Oxfordshire (pictured) and Reid’s Palace in Madeira.
This latest refinancing facility from Barclays follows the €35 million refinancing of the group’s two Sicilian hotels, Grand Hotel Timeo and Villa Sant’Andrea in September last year.
The bank’s head of hotel finance Tim Helliwell said: “Orient-Express Hotels has a long-standing relationship with Barclays and our understanding not only of their business, but of the industry, meant we were able to tailor a facility to meet their needs.
“Orient-Express Hotels has a fantastic collection of iconic assets, with a well-earned reputation across the globe, and it is its high standards which have ensured that demand and footfall have held firm over the years.”
The hotel group’s chief financial officer Martin O'Grady said: “We appreciate the continued support we receive from Barclays and are pleased to have worked with them to successfully complete the refinancing of these two important European properties.
"Their confidence reflects the quality of these assets and the ability of our operations to deliver a strong return on investment.”
Le Manoir aux Quat’Saisons was established by celebrity chef Raymond