The owners of a prime Newcastle hotel have secured a multimillion-pound refinance package to help fuel the group’s ongoing growth.
Sandman Hotel Group has made a series of recent acquisitions to add to its core sites in Newcastle, Gatwick and Aberdeen, with further growth planned. The UK and Ireland business – based at the Gallowgate hotel in the shadow of St James’s Park – forms part of a family-owned business based in Vancouver, Canada, which is one of the largest privately owned hotel chains in North America with more than 50 sites in Canada alone.
The group has secured a new eight-figure funding facility from HSBC, having been supported by longstanding advisors in the specialist real estate finance team at Newcastle law firm Sintons. The UK arm of the group has recently added to its portfolio with Portmarnock Hotel and Golf Links in Ireland, as well as a newly acquired site in Sheffield .
