Business

Private Equity Baron Guy Hands Injects £ 38 Million into Wife’s Hotel Chain

Private-equity baron Guy Hands injected £ 38m into a hotel chain run by his wife Julia after losing £ 19m last year.


Private-equity baron Guy Hands injected £ 38m into a hotel chain run by his wife Julia after losing £ 19m last year.

Sales of Hand Picked Hotels, which operates country houses and spa hotels in the UK and the Channel Islands, fell 60% to £ 22.6 million over the year to November 26, last year, due to the blockade of Covid.

Cash Injection: Hand Picked Hotels operates country houses and spa hotels in the United Kingdom and the Channel Islands.

The new financial statements show that a £ 38m investment by Hands, the founder of investment firm Terra Firma, was used to pay off £ 30m in bank debt and the rest to “support the group’s working capital.” Is shown.

Former lawyer Julia Hands began operations in 2001 after purchasing 16 hotels from Sir Richard Branson’s Virgin Group.

After purchasing 3 hotels in September, there are currently 21 sites. Demand has been “strong” since Covid’s restrictions were lifted, the director said.

advertisement

Private Equity Baron Guy Hands Injects £ 38 Million into Wife’s Hotel Chain

Source link Private Equity Baron Guy Hands Injects £ 38 Million into Wife’s Hotel Chain

Back to top button