Derek Quinlan and Paddy McKillen's Maybourne Hotel Group, which owns luxury London hotels including Claridge's, has been given a two-year debt extension by Nama, according to a report in Property Week. The group has a £660m debt pile that it has been trying to refinance.
The magazine said the extension was granted to "ensure the group does not have to sell any of the high-quality assets or a stake in the business at a discount". The income from the hotels is covering interest payments.
The Sunday Tribune had previously revealed that the hotels' debt was
transferred to Nama from Anglo at full value.
The magazine said Qatar Holding, the Sultan of Brunei, US casino mogul Steve Wynn and a US investment company have been circling the company in a bid to buy a stake in the business.