Crowne Plaza part of refinancing agreement
A Nottingham hotel has been subject to a debt refinancing deal backed by Clydesdale Bank. The city’s Crowne Plaza was included in the deal arranged by parent company QMH.
Fourteen hotels across the UK were involved in the deal as the UK arm of hotels group QMH underwent a senior debt refinancing backed by Clydesdale Bank Corporate & Structured Finance (CSF).
Hotels included in the deal include nine Holiday Inn locations, three Crowne Plaza sites and two Best Westerns.
CSF acted as lead arranger for the deal and the team included Minesh Patel, Tim Cussins and Ian George of Clydesdale Bank CSF in London.
Patel said: "QMH Group is a mature hotel group with strong international brands located in areas of high demand. The group has a highly experienced management team and has made significant investment to ensure its hotels maintain a fresh contemporary appeal. These factors have helped it to outperform its competitors in recent years in terms of both occupancy and revenue.”
