Claridge’s Hotel owner Maybourne Hotel Group is close to striking a refinancing deal for its £600m debts, according to reports.
The Berkeley and Connaught owner is said to be in talks with American property investor Westbrook Partners, as well as another unnamed investor over a £200m stake in the group.
Maybourne has until December to refinance its debt, currently held by Bank of Ireland and Allied Irish Bank, which were both hit hard by the credit crunch.
A spokeswoman for Maybourne declined to comment on specifics, telling BigHospitality: “Our refinancing is in the final stages and we are not in a position to comment until it is completed.”
This April Gordon Ramsay’s Boxwood Café at The Berkeley closed for business, leaving Gordon Ramsay at Claridge’s as the only remaining restaurant tie-up between the two parties.