UK: Hotel lender Leumi UK has completed a £13.8 million refinancing loan for Formby Hall Golf Resort & Spa.
The deal, agreed with equity firm H.I.G Capital and hotel manager Hamilton Pyramid Europe, has been proposed for a five-year term.
Formby Hall has 76 hotel rooms with multiple new spa and leisure facilities being installed. Plans going forward include extending the room count, as well as upgrading and extending the spa, gym, treatment rooms and hospitality facilities.
Liam Mullans, relationship director at Leumi UK, said: “Building strong relationships with our clients is paramount at Leumi UK, so we’re pleased to have the opportunity to be working again with H.I.G. Capital and Hamilton Pyramid Europe, both highly respected firms in the wider hotel and real estate markets.
“The UK hotel sector has grown significantly, with transaction volumes in H1 2022 up 35 per cent compared to H1 2021 and so we’re confident that Formby Hall has all the components to continue thriving over the coming years.”
Tobi Weissinger, partner at Hamilton Pyramid Europe, said: “We are confident that Formby Hall has all the credentials to excel over the next few years. Leumi UK’s hotels team and their unmatched expertise is an excellent asset, which will prove invaluable as we take the next steps in expanding and improving the property.
“The future for the UK’s hotel sector looks promising, and with plenty of opportunity for the UK’s regional UK golf and spa hotels, we’re looking forward to what the future brings for Formby Hall.”
