OakNorth & HSBC Team Up for a £232m Club Loan to Splendid Hospitality Group
OakNorth, the digital bank crafted by entrepreneurs for entrepreneurs, has joined forces with HSBC to provide a hefty £232 million club loan to Splendid Hospitality Group – a powerhouse of the UK’s privately‑owned hotel scene.
Who’s Splendid Hospitality?
With 24 hotels spanning the spectrum from London to Edinburgh and covering every market tier—from budget to luxury—Splendid’s portfolio is both broad and deep. They’ve partnered with giants such as IHG, Accor, Marriott, Hilton and yet are proud owners of independent gems as well.
The £232 million Club Loan
- Funds future capital‑expenditure projects, most notably the expansion of Hilton London Bankside in Southwark.
- That hotel currently boasts 292 rooms, a disillery bar, restaurant, executive lounge, conference rooms, spa, leisure club, and a ballroom that can accommodate up to 700 guests.
- The capital will add 76 more rooms, further boosting capacity and guest experience.
What the Leaders are Saying
Nadeem Boghani, Vice Chairman of Splendid Hospitality Group says: “Splendid has always been an entrepreneurial business with incredible agility—traits we know OakNorth and HSBC also possess.”
He goes on: “The teams showed deep hospitality knowledge and a clear understanding of what makes our business unique.”
He’s optimistic: “With the aid of OakNorth and HSBC, we’ll continue delivering the exceptional service and remarkable experiences that guests have come to expect.”
Ben Barbanel, Head of Debt Finance at OakNorth adds: “For 30 years, Splendid Hospitality Group has crafted unforgettable hospitality experiences and built an exemplary reputation.”
He notes industry challenges: “Staff shortages, cost‑of‑living pressures, yet Splendid still finds opportunities to expand and enhance its portfolio.”
Elizabeth Davies, Head of Real Estate Finance – Hotels, HSBC UK concludes: “Our long‑standing partnership with Splendid demonstrates HSBC’s unwavering commitment to the UK hospitality sector. We’re proud to provide bespoke funding solutions that help clients realise their ambitions.”
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