Hilco Real Estate Finance recently extended a loan on a hotel conveniently based at major travel hub Heathrow Airport.
After initially being lent £12.1 million to support the purchase of the accommodation venue back in 2024, the company has upscaled its loan by a further £1.7 million. The new funds obtained are designed to facilitate upgrades to the hotel following the successful negotiation for a new franchise agreement with a global hotel group. Under the new deal, the Heathrow hotel will now fall under the group’s brand for 25 years and planned works are anticipated to commence immediately.
Accessible hospitality business loans can support a diverse range of company aims. Funds can fuel key renovations and remodelling that helps enterprises improve the amenities and services they can supply to guests. However, loans can also ease cashflow during quieter seasons, an issue commonly experienced by operators in the hospitality industry. Finance options for hotels, restaurants and bars are available with different terms to suit a variety of needs and can be tailored to suit specific circumstances.
The new facility will expedite Hilco Real Estate Finance’s plans to upgrade and rebrand to meet the International Hotel Group’s Voco specification. Vice President for Hilco, Charles Job, commented:
“This was a great opportunity to work with an established operator and support their plans for a significant upgrade and brand refresh.”
The VP added that the company has long been an advocate of the UK’s hotel industry and has completed multiple deals in the recent months.
