Mayfair hotels secure £50m revamp funding

Crowne Plaza London - St James and 51 Buckingham Gate, Taj Suites and Residences have secured a package worth £50m from Barclays Corporate towards ongoing upgrade work.

The new five-year arrangement will refinance the existing facilities of both properties, which are owned by Taj Hotels Resorts and Palaces and will help fund refurbishment projects.

Taj Hotels (Europe) vice president of finance Nagarajan Chandrasekhar said: "We are pleased to have secured Barclays Corporate's ongoing support in what remains a challenging market, not just for the hotel sector.

"This funding package will enable us to continue to provide our customers with the best possible services and facilities available."

Both properties share the Spa at 51 facility, which is available to guests and day visitors and offers a bespoke treatment range designed by Anne Sémonin.