Westfort Advisors acted for Zetland Capital Partners LLP (Zetland) as the sole arranger of an acquisition and capex facility, underwritten by Starwood European Finance Partners Limited (Starwood); enabling the purchase and repositioning of the 338-bedroom Macdonald Manchester Hotel and the 156-bedroom Macdonald Holyrood Hotel in Edinburgh.
The acquisition, for an undisclosed sum, is one of the largest hotels transactions completed outside of London in 2021; the hotels will be managed by Zetland’s JV partner, Hamilton Hotel Partners.
This was a complex transaction, executed against prevailing uncertainty in the hotel sector and under considerable time constraints. We are delighted to have been involved in such a successful financing – made possible by the pragmatism of all parties, in particular Zetland, Hamilton Hotel Partners and Starwood.
