Scottish hotel group Apex has revealed it is to open a new £35m hotel in Bath next year, marking the launch of its first property outside of London and taking its total portfolio up to ten.
Boosted by a £29m funding package from Royal Bank of Scotland, the new hotel will consist of 177 bedrooms, a leisure complex and conference and events space when it opens its doors in 2017.
The property will join Apex’s existing sites, comprising four in Edinburgh, one in Dundee, one in Glasgow and three in London.
The move came after Apex Hotels revealed a boost in turnover for its latest financial year, thanks to events such as the Ryder Cup and the Commonwealth Games 2014, which were held in Glasgow, contributing significantly to trading levels.
Turnover rose to £57.3m from £56.1m although pre-tax profits fell to £4.7m from £6.8m.
Ian Springford, chairman at Apex Hotels, said: “The new hotel in Bath is an exciting opportunity for the group and we’re proud to have secured a great location in a booming city.
“With the new development, we’ll be able to offer a new contemporary hotel to the people of Bath, ideal for both tourists and professionals travelling to the city.
“Following a strong financial performance, our expansion marks the company’s 20th anniversary with a new venture that supports our long-term visions of growth.”
The four-floor Apex City of Bath Hotel on James Street West will create more than 100 jobs in the area and will be the largest hotel in the city.