Welcome Break has secured a £440m funding package from a banking syndicate led by Lloyds Bank Commercial Banking to enable further invest-ment in its hotel and retail offering.
Welcome Break is the second largest motorway service station operator in the UK, managing 27 sites.
The funding will be used to refinance debt, and will facilitate further investment in the portfolio. The company intends to extend and rebrand a number of its Days Inn hotels to the Ramada brand, introduce new restaurant and coffee brands, as well as creating more drive-through facilities.
Welcome Break, which attracts 85 million visitors a year, has an annual turnover of £648m and employs 5,500 staff.