Main Menu

Team cuts five star deal

Barclays Scotland backs London hotel with £45m

Barclays backing for St James hotel is latest in the hospitality sector


 

Sofitel London St James, a five-star hotel in the heart of London, has secured a £45m funding package from Barclays’ corporate banking team in Scotland.

It is the latest in a number of deals which has seen Barclays provide support to the hospitality and leisure sector to fund growth. In 2015 it provided £5m for the owner of the new Edinburgh Grand.

The funding for Sofitel will be used to renovate its guest suites within the neoclassical, grade II-listed building, in addition to refinancing an existing arrangement. 

Sofitel London St James will allocate £16m of the package to upgrade the bedrooms of its 183 room hotel, which have been personally designed by renowned French designer Pierre-Yves Rochon and his company PYR-Design. Barclays will also deliver day-to-day banking and credit card facilities for the business. 

The deal team was led by Paul Smith, corporate development director, Barclays, Scotland, and Yasmin Nabi, director, Debt Finance Barclays, Scotland. 



Leave a Reply

Your email address will not be published. Required fields are marked as *

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.