Z Hotels is to open a new property in a five-storey building off Trafalgar Square in London after a deal was struck for £18m of funding.
The group, which consists of a total of nine hotels, will acquire an office building in the centre of London and transform the property into its seventh in London.
The ‘urbanite stay’ brand has properties in London, Glasgow and Liverpool and has plans to open a further two hotels in London and Bath later this year.
Metro Bank provided the funding, after developing a ‘custom-made’ solution for the brand.
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.”