The Corinthia Group’s investment vehicle for its flagship hotel in London has secured Barclays UK Corporate Bank’s largest loan to the hotel sector in 20 years, with £192 million (€223 million) of financing agreed to support future growth – as part of an overall syndicated term loan of £205 million (€238 million).

Founded six decades ago in Malta, the Corinthia Group has evolved into a globally renowned luxury brand with owned and managed properties in some of the world’s most prestigious destinations – including the Corinthia London, located in the heart of Westminster.

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

Simon Naudi, CEO of Corinthia Group, said: “Our London property has been transformative for Corinthia as it has enabled us to showcase our strengths as hoteliers and developers to a global audience. Funding is key to our ambitions to expand and we are grateful to Barclays for their continued support.”

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 have done.

Barclays UK Corporate Bank has established a strong track record in financing the hotel sector, offering tailored banking and financing solutions to support the growth and development of these businesses. Their dedicated team of Relationship Directors brings over 40 years of combined sector experience, providing clients with strategic support, industry insights, and access to an extensive network of contacts through trade associations and industry bodies.