Virgin Money secures a £51m refinancing deal for Amano Hotel, strengthening its presence in London’s hospitality sector.
- This financial move supports the expansion of the Amano Group, known for its contemporary hotels across Europe.
- The hotel aims to optimise its capital structure to enhance guest experiences in Covent Garden.
- Excellion Capital advises Amano on the refinancing, highlighting their strong UK market entry since 2018.
- This refinancing deal marks a significant step in the Amano Group’s growth strategy within London.
Virgin Money’s specialist team has confirmed a £51 million refinancing agreement for the Amano Hotel, located in Covent Garden, in the heart of London. This initiative underscores the company’s pivotal role in the UK’s hotel finance sector, enhancing the operational capabilities of this flagship property within the Amano Group.
The Amano Hotel, celebrated for its modern and stylish accommodations, presents an appealing option for luxury stays amidst the vibrant backdrop of Covent Garden. The refinancing agreement intends to refine the hotel’s capital framework, thereby boosting its potential to deliver premium hospitality experiences.
Philip Rokeach, director at the Amano Group, expressed satisfaction with the progress, highlighting the successful introduction of the hotel’s Berlin-inspired concept to the London market in 2022. He noted, “This refinancing mirrors the achievements of our initial London operation, and we anticipate continued collaboration with Virgin Money as we seek further opportunities for expansion.”
Peter Upton, a senior figure in hotel finance at Virgin Money, praised the management and strategic location of the Amano Hotel in Covent Garden. He commented on the outstanding quality and management of the Amano Hotels he has visited in Germany, reinforcing Virgin Money’s commitment to the hotel lending market in the UK.
Excellion Capital, renowned for its expertise in real estate debt advisory, played a critical advisory role in securing this deal for Amano. With a strategic partnership established since the Amano Group’s entry into the UK in 2018, Excellion Capital has demonstrated consistent support for the group’s ambitious plans.
Robert Stafler, director of Amano UK and CEO of Excellion Capital, emphasized the success of the refinancing. He remarked, “Our new facility supports our ambitious growth strategy. Hotel Amano Covent Garden is the first of many projects we’re planning in London, with hopes to continue this partnership with Virgin Money.”
This refinancing deal positions the Amano Hotel to pursue further growth and success in the London hospitality market.
