Collinson secures £350 million credit facility

Collinson has secured a £350 million revolving credit facility from a syndicate of five international banks, doubling the size of its previous financing arrangements.

The London-based company plans to invest £500 million over the next five years to expand its airport lounge network and Priority Pass offering, grow its insurance portfolio, develop new products and technology, and enter new markets.

Collinson reported £2 billion in revenue for its latest financial year. The privately owned group employs more than 2,500 people across 14 countries and reaches over 500 million consumers.

“Securing this significant facility demonstrates the confidence that leading international banks have in Collinson, our strategy and our ability to deliver sustainable growth. Our record financial performance gives us a strong foundation from which to invest. This financing provides the flexibility to act decisively when opportunities arise – whether that means expanding our global lounge footprint, growing our insurance business, investing in technology or developing new products and services. Our ambition is not simply to become a bigger business. It is to build a stronger, more innovative and increasingly diversified Group that creates lasting value for our clients, partners, colleagues and the communities we support.” – David Evans, Group Managing Director of the Collinson.

More recently, Collinson partnered with Cathay Life Insurance to offer eligible travel insurance policyholders in Taiwan complimentary airport lounge access when their flights are delayed by more than 60 minutes or canceled.

Collinson Group is a travel and financial services company best known for operating airport lounge and travel-benefit programs such as Priority Pass. It also provides customer loyalty programs, travel insurance, airport services, and investment activities.