The Spa Hotel in Tunbridge Wells has secured a multi-million refinance deal with Allied Irish Bank as part of the hotel’s continued growth.
Owned by Scragg Hotels Limited, the investment will help to refurbish the hotel while ‘continuing to grow trade’ according to the 70-bedroom hotel’s owner, Anthony Scragg.
Alongside the bedrooms, The Spa Hotel, which was originally built in 1766, comprises a restaurant and new contemporary Zagatos Bar and Brasserie.
The spa is home to a pool, steam room, sauna and gym, as well as a lobby and orangery.
The Spa Hotel moved its business to Allied Irish Bank (GB) due to the bank’s strong hotel and leisure sector focus and expertise.
Anthony Scragg, owner of The Spa Hotel (Tunbridge Wells) said: We are very excited about this relationship with Allied Irish Bank (GB), embarking on a new chapter in our ownership of The Spa Hotel (Tunbridge Wells). Securing this deal will allow us to continue to refurbish the hotel to the standard we desire whilst continuing to grow trade. We have big plans for the future and with the backing of Allied Irish Bank (GB) this will allow us to realise these plans sooner.”
Colin Ridgway, deputy area director, Allied Irish Bank (GB) said: “Without doubt hotel operators are starting to come under pressure with the concerns around Brexit but the strong management team at The Spa Hotel (Tunbridge Wells) are focused on the future and have invested wisely in the development of the hotel.”