Fattal Hotel Group has secured a 614.3€ senior loan from Cheyne Capital to support the refinancing of 4 London hotels.
The 4 hotels in question are NYX Hotel London Holborn, Leonardo Royal Hotel London City, Leonardo Royal Hotel London Tower Bridge, and Leonardo Royal Hotel London St Paul’s. All were acquired by Fattal in 2019 and operate under its European arm, Leonardo Hotels.
A portfolio that represents more than 1,300 bedrooms and which is undergoing a refurbishment including meeting and event spaces, bars and restaurants, swimming pools, gyms, beauty spas, and therapy rooms.
Alongside its own funds, Cheyne’s long-term supporter, Migdal Insurance Company, also participated in the refinancing.
We are pleased to collaborate with Cheyne Capital, who have brought their exceptional expertise to this significant, high-profile financing of our beautiful hotels in London. Partnering with them, alongside Migdal Insurance Company, demonstrates the trust they have in our operational performance and hospitality platform, ensuring we continue to elevate our offerings in this vibrant city.
Guy Vardi, M&A Director of Fattal of Fattal European Partnerships
This refinancing is one of the largest so far in 2024 and demonstrates our ability to execute high-quality transactions of size. In Fattal, we have both an operator of the highest calibre as well as a funding partner that is willing to step up when required. The London hotel market is proving to be a compelling investment as it continues to recover post-COVID-19, and we will continue to seek out similar best-in-class investments such as this.
Arron Taggart, Head of UK Investment at Cheyne Real Estate
