Operations
Italy

plus

Orient-Express completes €35m Refinancing of Sicilian Hotels

1 min reading time

Published on 14/09/12 - Updated on 17/03/22

Add

Luxury hotel group Orient Express has completed a €35m refinancing of its two Sicilian hotels: the Grand Hotel Timeo and Villa Sant'Andrea, both located in Taormina and comprising of 70 and 60 rooms respectively.

Orient Express has announced it has successfully completed a €35m (US$ 46 million) refinancing of the Grand Hotel Timeo and Villa Sant'Andrea, the group’s two hotels in Sicily, following the recent refurbishment of both. Martin O'Grady, Chief Financial Officer, Orient-Express Hotels said: "We are pleased to have successfully completed the refinancing of our Sicilian hotels. We appreciate the continued support from our lenders, whose confidence reflects the quality of these assets and the strength of the Orient-Express operation." The new 3.5 year facility involves a consortium of domestic and international banks led by Barclays and Credit Agricole.In December 2010 the group successfully refinanced the Hotel Cipriani in Venice, Hotel Caruso in Ravello, Villa San Michele in Florence and Hotel Splendido and Splendido Mare in Portofino.

For further

Every week, the HON team brings you an expert look at the world of hospitality. By becoming a member, you will have access to a complete ecosystem: exclusive content, jobs, etc.

BECOME A MEMBER

Sign up to add topics in favorite. Sign up to add categories in favorite. Sign up to add content in favorite. Register for free to vote for the application.

Already signed up? Already signed up? Already signed up? Already registered?