Hotels group agrees refinancing

HOTELS group QMH, which owns a string of Crowne Plaza and Holiday Inn outlets, has agreed a refinancing deal with Clydesdale Bank’s Structured Finance division.

The company owns Crowne Plaza hotels in Chester, Nottingham and Glasgow and has a chain of nine Holiday Inn outlets, including one based at Manchester Airport.

QMH’s chief financial officer Matt Rosenberg said: “We are delighted to have completed this refinancing with Clydesdale Bank and look forward to developing the relationship further over the coming years. 

“We found Clydesdale’s approach both flexible and personal and they remained extremely supportive throughout the whole transaction.”

Clydesdale Structured Finance’s Minesh Patel said: “QMH Group is a mature hotel group with strong international brands located in areas of high demand.

“The group has a highly experienced management team and has made significant investment to ensure its hotels maintain a fresh, contemporary appeal.

“These factors have helped it to outperform its competitors in recent years in terms of both occupancy and revenue.”