Formby Hall Golf Resort & Spa receives £13.8m loan from Leumi UK
Specialist hotel lender Leumi UK has signed a £13.8m refinancing loan for Formby Hall Golf Resort & Spa in Liverpool.
The deal, which is to last five years, was agreed by global private equity firm H.I.G Capital and hotel manager Hamilton Pyramid Europe.
The four-star hotel currently has 76 bedrooms and is seeking to expand its room, spa, gym, and treatment offering.
Leumi UK predicted that the property will benefit from international visitors making the most of a weak pound, as well as domestic staycationers looking to save during the cost-of-living crisis.
Liam Mullans, relationship director at Leumi UK, said: "The UK hotel sector has grown significantly, with transaction volumes in H1 2022 up 35 percent compared to H1 2021 and so we're confident that Formby Hall has all the components to continue thriving over the coming years."
Tobi Weissinger, partner at Hamilton Pyramid, Europe added: "We are confident that Formby Hall has all the credentials to excel over the next few years. Leumi UK's hotels team and their unmatched expertise is an excellent asset, which will prove invaluable as we take the next steps in expanding and improving Formby Hall Golf Resort & Spa."