Global alternative asset manager Cheyne Capital has provided a £108 mln (€126.8 mln) senior loan to Champneys Health Resorts, the largest owner and operator of health and spa resorts in the UK.
The loan will be used to refinance and consolidate the group’s existing loan facilities. It will also support the group’s five-year business plan, including large-scale renovations of the Springs property in Leicestershire and Mottram Hall in Cheshire.
Champneys has six resorts and hotels in the UK with a combined total of 538 beds and 249 treatment rooms and an average of 100,000 people visiting per annum.
Duxhill Associates arranged the transaction.
Theo Hajoglou of Cheyne Capital Real Estate said: ‘As we emerge from the pandemic, two factors are clear. Firstly, that there is significant demand to travel once more and, secondly, that health and wellbeing is a major priority for consumers.
‘We are therefore pleased to be working with Champneys Health Resorts, both a premier hotel group and a world-renowned leader in the wellness space, and to support their efforts to maintain a state-of-the-art experience for their guests.’
