27th June 2020
Archer Hotel Capital (“AHC”) secures financing for pan-European Hotel portfolio
During financially challenging times across the hospitality industry AHC is pleased to have been able to count on the support of Aareal Bank AG to secure a €380 million, cross-collateralised financing package for a portfolio of 7 hotels in 5 different European countries. The portfolio of hotels includes the Le Meridien Piccadilly, Renaissance La Defense, Renaissance Vendome, Renaissance Amsterdam, Hilton Amsterdam Airport Schiphol, Sheraton Stockholm and Conrad Dublin.
The facility addresses near-term refinancing requirements within this sub-portfolio and will give AHC the financial headroom to navigate through the COVID-19 crisis and beyond. We also believe that this refinancing provides a stepping stone for AHC to pursue and implement its strategy over the next few years.