Corinthia deal marks Barclays' largest loan offered to hotel sector in 20 years

Corinthia Hotels has secured Barclays UK Corporate Bank’s largest loan to the hotel sector in 20 years, with £192m of financing agreed to support the future growth of their luxury five-star location in London – as part of an overall syndicated term loan of £205m.

Founded six decades ago by the Pisani family, Corinthia Hotels has evolved into a globally renowned luxury brand with properties in some of the world’s most prestigious destinations – including Corinthia London, located in the heart of Westminster.

Barclays has banked Corinthia London since the hotel was first developed in 2009 and has been able to make this new £192m commitment with the backing of the Barclays Business Property Fund, £22bn of lending available to new and existing clients to support UK business growth.

Michael Izzo, Chief Strategy Officer, Corinthia London, said: “Accessing finance is crucial to ensuring we can grow as a business, and this support from Barclays will allow us to do just that. We’re excited about our plans for Corinthia London and look forward to working together to deliver these in the years ahead.” 

Richard Robinson, Head of Hospitality and Leisure at Barclays UK Corporate Bank, said: “We’re proud of our longstanding relationship with Corinthia and are pleased to have supported them with this groundbreaking loan. Businesses don’t just grow spontaneously. They must have the confidence to invest, expand and innovate – just as Corinthia has done.”