Pembroke Hospitality and the Irish Strategic Investment Fund (ISIF) have announced a €50 million commitment to a new Hotel Investment Fund (HIF).

The fund is created to invest in hotels whose business has been negatively impacted by the Covid-19 pandemic.

The HIF provides hotel owners with medium-term bridge financing to enable their business to recover and grow after Covid-19.

It will target investment in hotels in the Republic of Ireland rated 3 stars and above, with a minimum of 25 rooms.

Pembroke Hospitality will manage and execute the fund in partnership with BVP Investments.

He said the fund would invest in hotels that have a viable growth plan but are unable to raise funds from banks or alternative lenders.

It will provide facilities to hotels between 0.5 and 5 million euros, for a period of three years.

Mark Lynch, director of Pembroke Hospitality, said the hotel investment fund is a viable financing solution for hotels in need of financial restructuring.

“The fund will offer borrowers a differentiated capital solution with speed of response and access to decision makers, certainty of execution and continuity of relationship management throughout the life of the financing,” he said. declared.

Nick Ashmore, director of ISIF, said ISIF’s Pandemic Stabilization and Recovery Fund is playing an “important role” in supporting viable Irish businesses in sectors which have been hit hard by the pandemic. and to help them recover and grow.

“This investment is a further demonstration of our support for the Irish tourism, hospitality and leisure sectors which play such an important role in attracting visitors to destinations across Ireland and supporting jobs and businesses,” did he declare.

“This is an excellent example of ISIF’s unique ‘double bottom line’ mandate of investing for commercial return in projects and businesses that support economic activity and employment in Ireland,” he said. he adds.

Initial applications can be made through the HIF website.