Cairn Group plans growth following £101M refinance

Carlton Hotel

UK-based hotel owner and operator Cairn Group wants to expand—and a new refinance deal is poised to make the company's plans come true. The 26-hotel-strong company has completed a refinance deal worth a reported £101 million with HSBC, and is already planning to invest more than £50 million into new acquisition and development. 

Existing properties within the Newcastle-headquartered business' portfolio include the DoubleTree Hilton and Royal Station Hotel in Newcastle. Late last year, it acquired the Ramada Glasgow Airport Hotel and the historic Stoke Place hotel in Buckinghamshire. A renovation and rebranding of the Hotel Indigo Edinburgh Princes Street is slated to be completed next month. 

Cairn Group

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Over the past five years, the group has spent more than £40 million acquiring and improving assets and doubled employee numbers. Over the course of a year, the company has grown its workforce by 300 employees, and is expected to hire more workers going forward.

Source: The Chronicle

Suggested Articles

Slated to open in 2021, the hotel will mark the first dual-branded SpringHill Suites by Marriott and Element by Westin.

Crescent Hotels & Resorts, Columbia Hospitality and OLS Hotels & Resorts have begun operating new hotels this month.

The 147-room hotel includes a restaurant pub, a fitness center, an indoor pool and 1,900 square feet of meeting and event space.