A £13.2m refinancing deal has been announced for the new 150-bedroom Hampton by Hilton hotel in High Wycombe.
The London-based subsidiary of Israeli bank Leumi UK has agreed the five-year facility with Handy Cross Dev Co, a joint venture owned by the Jaffer family and the management company Legacy Hotels & Resorts.
Located in the Handy Cross mixed-use development in Buckinghamshire, the hotel opened in June 2021.
Stephen Welch (pictured), senior relationship manager, hotel finance at Leumi UK, said: "The long-term fundamentals of the hotel market are promising, but certain assets such as select service hotels with well-connected transport links have shown their resilience and are recovering faster than others. The strong initial performance of this particular hotel is a great example of this fact."
Haider Jaffer of Handy Cross Dev Co added: "We are thrilled to have agreed this refinancing deal with Leumi UK, which shares our conviction that the Hampton by Hilton hotel outside High Wycombe will continue to perform strongly in a quickly recovering market. Our lean rooms-led operating model has proven a success since the hotel's opening in June, and we're confident this performance will only improve."
Legacy Hotels & Resorts operates 22 hotels in the UK, one in Spain and one in Macedonia.