Duff & Phelps secures bank refinancing for country house hotel

Duff & Phelps has helped to secure the future of Losehill House Hotel & Spa with a multi-million refinancing deal. Duff & Phelps secured the funding from Allied Irish Bank and played a key role in bringing all parties together, as well as supporting the management team through the refinancing process.

Located in the heart of the Peak District National Park, Losehill House Hotel & Spa is owned by Paul and Kathryn Roden, formerly of the high-concept Manchester restaurant Grafene. The duo have owned the four star hotel since 2007, and have since crafted a reputation as one of the finest boutique hotels in the country. It boasts a two-AA rosette restaurant, relaxing spa facilities and 22 luxurious bedrooms.

The Derbyshire hotel was handed the accolade of Country House Hotel of the Year in 2018 by The Sunday Times. In the review of the hotel, the UK paper described Losehill as “a nirvana for hikers, foodies and anyone in search of a quiet life.” The hotel was also awarded the Peak District Environmental Quality Mark for their commitment to the Peak District and the environment in general.

Despite the acclaim surrounding the venue, on-going uncertainty impacting the UK dining market means that Losehill House could have had difficulty financing future expansion projects to further elevate its facilities and experience. In order to secure the hotel’s future, its owners consulted with Duff & Phelps to oversee an extensive refinancing deal with creditors.

The multi-million refinancing deal has secured funding from the Allied Irish Bank, and will support the on-going investment in the country house hotel and assist plans to bring Manchester’s Grafene dining concept to the Peak District. Allied Irish Bank was represented by Relationship Manager David Booth, who was introduced to Paul and Kathryn Roden by Paul Smith, Managing Director at Duff & Phelps.

Commenting on the deal, Paul Smith, Managing Director, Duff & Phelps Debt Advisory, stated, “We are delighted to have supported the management team at Losehill Hotel through the refinance process and to have delivered another successful outcome to a business in the hotel sector. We were pleased to take such an instrumental role in bringing together all the parties in this deal to deliver the best possible outcome."

Paul Roden, Owner of the Losehill House Hotel & Spa, added, “We have a lot to be proud of and have some very exciting plans afoot as we move to bring the Grafene’s refined take on British eating to the hotel. The refinance deal led by the team at Duff & Phelps comes at a perfect time and we are happy to be working with a finance partner who understands our business and future aspirations. The deal backs our ongoing investment strategy and we have been very happy with how helpful and supportive Paul Smith and the team have been.”