Starhotels secures €350m financing deal with bank consortium

Italian luxury hotel group Starhotels has secured a €350 mln, 10-year financing deal with a consortium of banks consisting of BNL BNP, BPER, BPM, Crédit Agricole, MPS and Unicredit.

The Franklin London - Star Hotels

This new loan replaces a previous €460 mln loan, signed in 2022 and expiring in 2027, and will fund property maintenance and upgrades, acquisitions, and new management contracts. 
The group operates 31 four- and five-star hotels, including its luxury "Collezione" and upscale "Premium" brands, with over 4,200 rooms in prime locations across Italy, as well as in London, Paris, and New York. 
Rothschild & Co. and Legance Avvocati Associati advised Starhotels, while McDermott Will & Emery advised the banks.
Starhotels' portfolio will soon include the Hermitage Hotel & Resort in Forte dei Marmi, recently acquired from the Maschietto family's Augustus Hotel & Resort group. 
The group, wholly owned by Elisabetta Fabri through Starhotels Finanziaria, reported €304.8 mln in revenue, €116.7 mln EBITDA, and a net debt of €348.4 mln against €752.2 mln in equity for 2023.