Golden Tulip UK Raises €51 Million (£33M) To Fund Expansion Programme
Summary
Barclays Bank Plc Hospitality & Leisure Team is providing the debt funding.The funds will be invested over a three-year period as the development programme is rolled out.Peter Roberts, Managing Director of Golden Tulip UK, said: "During the next three years we plan to open at least 30 hotels across the UK and Ireland, of which 17 will be newly developed properties to operate under the Tulip Inn brand. ""The successful fund raising we have announced today allows us to start immediately developing the business and exploiting a number of exciting opportunities that we have identified over recent months. Golden Tulip UKs hotels will appeal to the many customers who demand a high quality product and first class service at an affordable price. Graphite Capital was formed in March 2001 when F&C Ventures was acquired by its management team from the Foreign & Colonial group. The Graphite Capital team included Perry Chapman, Simon Fitch and Jenny Billington.For further information please contact Perry Chapman, Partner, on 0207 825 5335Based in Pall Mall, London, SW1, the core of Barclays Hospitality & Leisure offering is a close-knit team of senior corporate bankers who specialise in providing banking services and funding solutions to leisure operators.Peter Roberts - Managing Director- - Peter Roberts is a leading property entrepreneur with more than 30 years experience and a successful track record in hotel and leisure developments.