Refinancing of Park Plaza Victoria London

Summary by AI BETAClose X

PPHE Hotel Group Limited has secured a new £88 million, 5-year refinancing facility for its Park Plaza Victoria London hotel, arranged by Santander UK plc and ABN AMRO Bank N.V. This facility replaces an existing one maturing in Q1 2026 and will bear a floating interest rate, with 90% hedged at an all-in rate of 3.9%, a slight increase from the previous 3.42% fixed rate. The refinancing supports an ongoing capital expenditure program to upgrade guest rooms in the first half of 2026, aiming to drive shareholder value and enhance guest experience. Funding is expected on December 18, 2025.

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