Metro Bank have today announced that it has provided Z Hotels with £18 million of funding that will be used to acquire a five-story office building just off Trafalgar Square in central London.
Branded as ‘The Urbanite Stay’, Z Hotels offers luxury hotel accommodation in prime city locations across London, Liverpool and Glasgow, and has plans to open a further two hotels in central London and Bath later this year.
Mark Stokes, Managing Director Commercial Banking at Metro Bank said: “We’re delighted that we could provide Z Hotels with a swift and custom-made funding solution. We look forward to further developing our long-standing relationship with them over the coming years, as they continue to expand their hotel portfolio.”
Bev King, Founder of Z Hotels added: “We really appreciate how quickly Metro Bank were able to put terms together for the acquisition.
“Metro Bank and our Relationship Manager Jackie Skelt were very supportive in the dealings with us which allowed the transaction process, from initial offer through to drawdown, to run extremely smoothly and efficiently. We look forward to developing our relationship with Metro Bank as we enter the next stage of growth in our business.”