Barclays supports Corinthia Hotels growth with largest loan to the hotel sector in 20 years

• Barclays UK Corporate Bank has agreed £192m in financing for luxury hotel group Corinthia Hotels
• The deal marks the corporate bank’s largest loan offered to a hotel sector client in 20 years

Corinthia Hotels has secured Barclays UK Corporate Bank’s largest loan to the hotel sector in 20 years, with £192m of financing agreed to support the future growth of their luxury five-star location in London – as part of an overall syndicated term loan of £205m.

Founded six decades ago in Malta by the Pisani family, Corinthia Hotels has evolved into a globally renowned luxury brand with properties in some of the world’s most prestigious destinations – including Corinthia London, located in the heart of Westminster.

Barclays has banked Corinthia London since the hotel was first developed in 2009 and has been able to make this new £192m commitment with the backing of the Barclays Business Property Fund, £22bn of lending available to new and existing clients to support UK business growth.

Michael Izzo, Chief Strategy Officer, Corinthia London, said: “Accessing finance is crucial to ensuring we can grow as a business, and this support from Barclays will allow us to do just that. We’re excited about our plans for Corinthia London and look forward to working together to deliver these in the years ahead.”

Richard Robinson, Head of Hospitality and Leisure at Barclays UK Corporate Bank, said: “We’re proud of our longstanding relationship with Corinthia and are pleased to have supported them with this groundbreaking loan. Businesses don’t just grow spontaneously. They must have the confidence to invest, expand and innovate – just as Corinthia has done. We’re here to help build this confidence and ensure businesses across the UK can access the finance they need for growth.”

Barclays UK Corporate Bank has established a strong track record in financing the hotel sector, offering tailored banking and financing solutions to support the growth and development of these businesses. Its dedicated team of Relationship Directors brings over 40 years of combined sector experience, providing clients with strategic support, industry insights, and access to an extensive network of contacts through trade associations and industry bodies.

Notes

The full package of finance involves a £205m syndicated term loan, with Barclays providing £192m of this amount and acting as Mandated Lead Arranger, Documentation Co-ordinator, Facility Agent and Security Trustee. The hold of £192m is the largest taken by Barclays UK Corporate Bank on a deal with a hotel sector client in 20 years.