Rogue City Hotel Group, has secured £21m in funding by Tikehau Capital, the global alternative asset management group, to continue construction on its two new sites in Glasgow and Cambridge, due to complete in 2022.
The group, which owns and operates Dunalastair Hotel Suites in the Scottish Highlands has major plans to expand exponentially over the next few years.
The Wellington in Glasgow is a former Tribunal Court listed building, which will be sympathetically restored into a 98-bedroom boutique hotel and meeting space scheduled to open in summer 2022.
The Hobson will be a 56-suite luxury hotel and meeting space focused around an atrium style restaurant housed in a Grade-II listed former police station. The hotel sits in a prime location on St Andrew’s Street in Cambridge’s city centre, opening in September 2022.
The properties will be delivered by Henley Construct, under Henley Homes Group PLC.
Nassar Khalil, founder & CEO of Rogue City Hotel Group and Leisure & hotel director of Henley Homes Group commented: “It has been a pleasure working with Tikehau Capital on this transaction over a seven-week seamless closing process, which shows confidence in our concept, in one of the most challenging times for the hospitality industry.”
Jean Odendall, fund manager of the Tikehau Special Opportunities funds at Tikehau Capital, stated: “We are very happy to have partnered with Rogue City Hotel Group to help them develop this ambitious project. This transaction is illustrative of our opportunistic and innovative strategy, leveraging Tikehau Capital’s alternative investment platform to provide flexible capital during a uniquely challenging period of time, and supporting projects and teams in which we believe in.”
The group has major plans to expand exponentially over the next five years with another site lined up in Perth, Scotland and its sights set on national and international locations.