June 29, 2012 05:19 ET

Scottish Hotel Seamill Hydro Secures GBP 3M Refinancing From Santander

LONDON, UNITED KINGDOM--(Marketwire - June 29, 2012) - Ayrshire hotel and resort Seamill Hydro will this Thursday be unveiling its new restaurant, The Orangery. The refurbishment of the restaurant is part of the hotel's wider regeneration programme, backed by a new £3 million refinancing agreement with Santander Corporate Banking and their large choice of nationwide personal loans.

The hotel has been owned and operated as a partnership by two generations of the Sweeney family since 1985. The family has rejuvenated the business, transforming it from a neglected 40-bedroom hotel into a bustling 94-bedroom resort attracting a wide demographic of guests from both the UK and abroad.

The new finance will allow Seamill Hydro to continue its extensive refurbishment programme, providing working capital to continue with further improvements.

Sylvester Sweeney, Co-owner of Seamill Hydro, said: "We are extremely dedicated to our business and want to safeguard it for the future generations of our family. We are proud of our achievements to date in transforming the hotel, but realise there is much more that can to be done. Working with Santander has been a very positive experience for us and we hope to continue our working relationship with them in the future."

Peter Anderson, Relationship Director for Santander Corporate Banking, said: "I am very pleased to have been able to support the Sweeney family with the expansion and refurbishment of this lovely hotel. They have worked extremely hard to transform the hotel in the past 27 years and I am sure that with Santander's help, they will be able to make all the improvements necessary to keep the hotel at its high standard. We hope to build a relationship with them and are keen to assist with future financing requirements."

The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.

About Us

Santander Corporate, Commercial and Business Banking was established after the restructuring of Santander Business Banking and Santander Corporate Banking in March 2011, following the appointment of Steve Pateman to the Executive Board. Santander Business Banking supports customers with a turnover of up to £250,000, through a team of Local Business Managers, UK-based call centres and online banking. Santander Corporate and Commercial Banking provides dedicated relationship banking support to businesses with a turnover of more than £250,000 through the bank's 24 regional corporate banking centres located across the UK.

Santander UK plc is autonomous from its parent in terms of capital and liquidity, raising its own funds to run its business. Sovereign exposures to Europe (excluding UK) as at March 2012 are not significant at less than 1% of total assets and primarily relate to Swiss government. Total exposure to periphery countries is c. 0.3% of total assets.

BancoSantander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with a presence in 10 main markets. Santander is the largest bank in the euro zone and is among the top fifteen in the world by market capitalization. Founded in 1857, Santander had EUR 1.383 trillion in managed funds, more than 102 million customers, 14,760 branches - more than any other international bank - and 193,000 employees at the close of 2011. It is the largest financial group in Spain and Latin America. Furthermore, it has significant positions in the United Kingdom, Portugal, Germany, Poland and the U.S. northeast. Santander Consumer Finance operates in the Group's core markets as well as in the Nordic region. In 2011, Grupo Santander registered EUR 7,021 million in recurring net profit.

Contact Information

  • Media Enquiries
    Sarah Davies
    0207 756 4211

    Jemma Abela
    0207 756 4199

    The press office operates from 8.00am to 6.00pm.
    Outside of these hours please call 0800 5877708.