Headliner Hotels targets 30,000 guests with £2.8m funding support from Shawbrook Bank

04 March 2019

Billboard

Wigan-based Holiday Inn Express owned by Headliner Hotels targets further growth in 2019 funding from Shawbrook, catering for complex structure and short trading history. 

Shawbrook Bank has provided Headliner Hotels with a £2.8m commercial mortgage against the leasehold of their Holiday Inn Express development in Wigan.

The hotel provides Wigan with much needed bedroom capacity for both business and leisure markets, whilst delivering outstanding customer service.  Opened in December 2017 following a 2 year build period, the Holiday Inn Express quickly achieved Elite Status from their franchisor and 4.5/5 star rating on Tripadvisor. 

With ambitions to now host 30,000 guests during the next 12 months, Headliner required a longer term funding solution from a new finance partner. 

Working closely with the management team, Shawbrook tailored a facility that provides cashflow headroom in the short term; a 5 year term with a 20 year amortisation profile; and a structure that allowed for a sale and leaseback of the freehold to a pension fund.

Stephen McManamon, Director at Headliner Hotels says:

“After a fantastic first year trading, we’re now well on track to host 30,000 guests this year.  Having Shawbrook onboard means we now have a far more stable funding facility in place, which gives us both the flexibility and certainty we need to keep delivering a great welcome and a good night’s sleep to anyone visiting this great town.”


Simon Carrier, Managing Director, North West at Shawbrook Bank, says: 

"There were some complexities to this transaction, which the team here in Manchester were able to address simply by working closely with Stephen and getting to understand his business.  I know Stephen has put his heart and soul into this hotel, which is now a real asset to Wigan.  Just as the reputation of the hotel depends on the ability of Stephen’s team to deliver exceptional service day after day to all his guests, that’s exactly what drives us too."