Business
Refinancing of Park Plaza Victoria London
PPHE Hotel Group Limited has secured a new £88 million, 5-year refinancing facility for its Park Plaza Victoria London hotel, arranged by Santander UK plc and ABN AMRO Bank N.V. This facility replaces an existing one maturing in Q1 2026 and will bear a floating interest rate, with 90% hedged at an all-in rate of 3.9%, a slight increase from the previous 3.42% fixed rate. The refinancing supports an ongoing capital expenditure program to upgrade guest rooms in the first half of 2026, aiming to drive shareholder value and enhance guest experience. Funding is expected on December 18, 2025. Disclaimer*
About this update from Pphe Hotel Group Limited
[{"type":"text","content":"\n\n \n\n16 December 2025\n \nPPHE Hotel Group Limited\n(\"PPHE\", the \"Group\" or the \"Company\")\n \nRefinancing of Park Plaza Victoria London\n \nPPHE Hotel Group, the international hospitality real estate group which develops, owns and operates hotels and resorts, is pleased to announce that it has entered into an agreement to refinance Park Plaza Victoria London (the \"Hotel\").\n \nThe new £88 million facility has been arranged by Santander UK plc and ABN AMRO Bank N.V and is part of an ongoing programme for the long-term refinancing of certain of the Group's assets following the successful refinancing of Park Plaza London Riverbank in November 2025. This new facility for Park Plaza Victoria London will replace the existing facility with Barings LLC, which matures in Q1 2026.\n \nThe new facility is for a term of 5 years and will bear a floating interest rate, of which 90 per cent is hedged at an all-in rate of 3.9%. This compares with an all-in fixed rate of 3.42% that applied under the existing facility.\n \nThe new facility will be secured, inter alia, by a first legal charge over the Hotel and pledges over the company which owns the freehold of the hotel and its related operating subsidiaries.\n \nThe new facility agreement is subject to certain conditions precedent being fulfilled, and funding is expected to take place on 18 December 2025.\n \nThe facility agreement includes financial covenants based on loan to value and debt service common with this type of facility.\n \nDaniel Kos, Chief Financial Officer of the Company, commented:\n \n\"We are pleased to announce a second major refinancing this quarter, underlining the strength and breadth of our banking partnerships. Park Plaza Victoria London was one of the Group's first London hotels and has been a strong contributor to the Group since opening in 2001. The hotel is currently undergoing a capex investment programme, which will see all guest rooms upgraded in the first half of 2026. The new facility supports our overall ambition of driving value for our shareholders and delivering an outstanding guest experience.''\n \n- Ends -\n\n \nEnquiries:\n \n\n\n\n\nPPHE Hotel Group Limited\n\n\nTel: +31 (0)20 717 8600\n\n\n\n\nGreg Hegarty, Co-Chief Executive Officer\nDaniel Kos, Chief Financial Offic...