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28 February 20231 minute read

DLA Piper advises Virgin Money on refinancing of five UK hotels

DLA Piper has advised Virgin Money on its refinancing of five hotels for Axcel Hospitality, the UK-based hotel owner-operator.

The completed matter marks the 14th such major hotel financing that the firm’s finance team in Edinburgh has advised on in the previous 12 months. The refinancing facilities will cover the AC Hotel in Manchester, VOCO by IHG at Haymarket in Edinburgh, Mercure Haymarket, and The River Ness Hotel in Inverness. The matter saw a multi-disciplinary DLA Piper team provide finance, real estate, tax and construction advice.

Allan Leal, Finance Partner at DLA Piper comments: “We are delighted to have had the opportunity to work with the Virgin Money team on this complex, multi-asset refinancing. Well done to the team in Edinburgh for their great work on this matter, and across what has been a busy year.”

The DLA Piper team, as led by Partner Allan Leal, included Partner Steve Edgecombe, Legal Directors William Reid, Edwin Truesdale, Paul Burney and Andrew Walker, Senior Associates Richard Johnson and Gemma Grunewald, Associates Craig Hunter and Lydia Raybould.