Private equity baron Guy Hands injects £38m into hotel chain run by his wife Julia after it made £19m loss last year

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Hand Picked Hotels operates spa hotels throughout the UK and the Channel Islands

Private equity baron Guy Hands has injected £38 million into the hotel chain run by his wife Julia, as it lost £19 million last year.

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Turnover of Hand Picked Hotels, which operates country houses and spa hotels in the UK and the Channel Islands, fell 60 per cent to £22.6 million on 26 November last year as the Covid lockdown was lifted.

New financial documents show £38 million was invested by Hands, the founder of investment firm Terra Firma, which paid off a £30 million bank loan and the remainder was used to ‘support the group’s working capital’.

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Former lawyer Julia Hands set up the business in 2001 after Sir Richard Branson bought 16 hotels from Virgin Group.

After buying three hotels in September, it now has 21 sites. The directors said the demand was ‘curious’ since the Covid restrictions were lifted.

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