Hotel in Cornwall

A well-established family hotel had sold the business in December 2020 in the midst of the lockdown and the new owner required a complete update of the IT infrastructure. The assets in question were software and hardware including the install costs.

The challenge here was the nature of the asset, the sector which had been hard hit by Covid-19 and a new company requiring the finance. A challenge.

We were able to use one of our specialist leasing partners who looked at the track record of the investors alongside the quality of the management team. Whilst the assets were critical to the hotel, they did not possess much resale value but again we were able to look at the quality of the team and the excellent financial projections to obtain a 3-year leasing facility to cover the whole project.

This was also transacted without any Directors Guarantees.