• Macdonald refinanced

Macdonald Hotels has secured a GBP300m refinancing deal with Lloyds Bank that returns majority control to management. A five year facility will allow capital expenditure of GBP70m on the group’s 46 hotels and 10 resort properties, reports the London Times.

Macdonald saw average occupancy up 4% to 64.6% in the year to March 2014, with room rates up 1%. The company recently completed a sale and leaseback on its Randolph hotel in Oxford, in a deal estimated at GBP35m.

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