Debt restructure for QHotels portfolio

21 April 2021 by
Debt restructure for QHotels portfolio

Real estate investment company Aprirose and Beijing-based international private equity firm Cindat Capital Management have agreed a debt restructure with their lending club for the QHotels portfolio.

The international joint venture acquired the chain of UK regional hotels from Bain Capital Credit and Canyon Partners in 2017, before selling off the Midland hotel in Manchester, Mottram Hall in Cheshire and Bridgewood Manor in Chatham, Kent.

The portfolio now comprises 20 country house, hotel and spa assets, including Oulton Hall in Yorkshire and Slaley Hall hotel and luxury golf resort (pictured) in Northumberland.

Bernard Van der Lande, managing director of Cindat, said: "As judicious stewards of a diverse portfolio of global investments, we have conviction in the lodging industry's recovery, and are very invested in our partners, management platform, and this portfolio of hotels that employs so many hard-working people across the UK."

Manish Gudka, chief executive of Aprirose, said: "We are very pleased with this outcome and the support we have received from Cindat and our banks who share our confidence in both the assets and the future market conditions.

"We believe the market is set for huge staycation growth, while at the same time anticipating significant growth in conference and events business of a new kind where businesses make up for lost collaboration and fewer days in the office in the future by getting staff together more regularly. The assets in this portfolio are well placed to capitalise on this trend."

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking