Arc & Co, a specialized debt advisor, has successfully obtained a £22 million facility from OakNorth Bank to finance renovation projects for the Hampton by Hilton hotel situated at Edinburgh Airport. The senior commercial loan, with a duration of three years, is secured against the hotel itself and operates on an interest-only basis.
Ability Hotels, the borrower, plans to expand the existing 240-room property through a phased development, which will result in an additional 380 rooms in total. The Hampton by Hilton hotel, built in 2018, is conveniently located across from the main terminal building at Edinburgh Airport. Subject to obtaining planning consent, OakNorth Bank will provide the development facility required for the renovation works.