Northern Ireland hotel to benefit from AIB GB £32.75million deal to fund expansion of global hospitality group
The deal will specifically support the DoubleTree by Hilton in Bath, The Hilton in Belfast and The Queens Hotel in Leeds – all three hotels are recent acquisitions for Pandox
Hotel Group Pandox has secured £32.75million from AIB GB as part of a wider syndicated loan of £64million.
Pandox, the hotel property portfolio company consisting of 157 hotels in 11 countries including Northern Ireland, has a market cap of £2.40 billion and is listed on the Nasdaq Stockholm Stock Exchange.
Its property footprint is mainly focused on northern Europe, including Sweden, Germany, the UK, and Belgium. The deal will specifically support the DoubleTree by Hilton in Bath, The Hilton in Belfast, and The Queens Hotel in Leeds. All three hotels are recent acquisitions for Pandox.
Emma Young, head of syndication at AIB GB, said: “This is a significant deal for AIB GB that signals our commitment to the UK hospitality sector. It is always great to be involved in deals that support UK tourism, as we recognise its importance for the larger economy.
“AIB GB is pleased to have been able to support Pandox as it looks to grow its business in the UK, and expand its offering in the hotel and leisure sector more generally.”