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BTG Advisory was engaged by client and bank to undertake a pre-lend review prior to the acquisition of a boutique hotel out of administration.
Our specialists undertook a review of the business plan, forecasts and post-acquisition integration for the target hotel to assist the credit team with the sanctioning of the loan. BTG Advisory highlighted key issues and sensitivities and liaised with both valuers and lawyers on these issues, as well as negotiating directly with the administrators to focus on key areas and to drive a consensual outcome.
Following BTG Advisory’s review the acquisition was completed within the tight time frame given, and the hotel was acquired as a going concern. Both client and bank were happy with the smooth process, which also resulted in jobs being saved.
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