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Yorkshire Bank has a dedicated hotel sector team who provide bespoke funding solutions for hotels in established locations in the UK. The team undertakes most types of transactions including refinancing existing trading hotels, asset reposition and rebranding with a particular focus on new hotel development finance.
Borrowers include SMEs, family offices and PE Houses amongst others, with a typical debt size of £10m to £40m (£5m+ in London and Edinburgh). The team has a reputation for a consistent, professional approach and a strong track record of delivery.
Development and term funding for a strongly located 228 bed new build hotel on Fountainbridge in central Edinburgh. The development phase was completed on time and budget and the hotel opened for trade in October 2017.
A five year, £15 million deal for the bank to be the sole funding partner of Scotland’s ground-breaking home of live entertainment – the 12,000 seat Hydro at the Scottish Exhibition and Conference Centre complex in Glasgow.
£35.25m development and term funding provided to a US real estate investment manager for their first hotel development in the UK. Development comprises a new build 212 bed Hotel Indigo, a branded boutique hotel under a franchise agreement from Intercontinental Hotels Group (IHG). The hotel forms part of Aldgate Place, a two acre development with 463 new homes, retail and commercial outlets.
Bespoke funding packages to assist hotel developer and operator St James’s Hotel Group with two new Hotel Indigo developments in the historic centres of Bath and Stratford-upon-Avon. Both developments include the refurbishment, extension and conversion of a number of listed buildings to form new boutique hotels with destination restaurants to be operated by a Michelin starred chef.
Development and term funding of £42.5m to support highly regarded hotel developer in the construction of a branded luxury hotel in central London. The project comprises conversion of an attractive Grade II listed building and the addition of a new build extension to the rear of the property.
Terms and conditions apply. All facilities are subject to status and eligibility. Over 18s only. Fees may apply. Please note that security may be required. Any asset used as security will be at risk if you break the agreement and may be sold to repay your debt. The products described may not be suitable for all requirements and circumstances. In accordance with its Terms of Business, the Bank is not providing advice in respect of these products. In addition, the Bank only provides information on the products, services and transactions provided by it or a member of the Bank’s group. It is your responsibility to seek any financial, tax and/or legal advice that you require. Any decision to enter into a transaction with us is on the basis that you have made your own assessment, with or without additional professional advice, of the suitability of the product for your requirements.
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From 14 August, we’ll stop setting aside money for payments due on a Monday, which means the money will still be in your account over the weekend. Please ensure you have enough money in your account for Direct Debits and standing orders due on the Monday (or the next working day after a bank holiday).Continue to Virgin Money Business Internet Banking