| Oakdene Group to transform West End hotel |
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| Monday, 10 November 2008 | |
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Oakdene Group will buy and redevelop the Montcalm Hotel in London's West End after securing a £30m funding package with Royal Bank of Scotland.
The Grade II listed hotel, situated close to Hyde Park and Oxford Street, will be upgraded from a 4-star luxury hotel to a 135-bedroom luxury boutique hotel by Oakdene subsidiary Montcalm Holdings. The finance package includes a refinancing facility, for the initial purchase of the hotel, and a capital expenditure facility to support the refurbishment of the hotel. It is expected to open in late 2009. |