A Germany-based hotel group is to open its first property in the UK, after securing a £49m financing deal to bring the project to fruition.
Amano Group, which comprises 15 hotels across Germany, is to open the Amano Covent Garden Hotel through a deal with Leumi UK, Israel’s international bank to finance the transformation of Drury House, a former office building in the capital into the new 141-bedroom hotel.
The new property is due to launch in 2022 and will mark the brand’s UK debut.
German group, Amano has partnered with London-based investment firm Excellion Investments to develop the new site under the Manex Properties umbrella.
Robert Stafler, director, Manex Properties, says: “Manex was created with a vision to add a new flavour to London’s hotel landscape. We are pleased to have closed this financing with Leumi UK, whose excellent team has been a strong and reliable partner for us right from the get-go.
“Amano Hotels are an established, award-winning franchise in Germany, and we look forward to launching the Amano brand here in London in 2022.”