Dominvs Group has secured £68.5m in funding for a new Hampton by Hilton hotel in Aldgate, E1, as well as an existing Courtyard by Marriott in Oxford, in two separate deals.
Preeptal Ahluwalia, director at Dominvs, highlighted “rising optimism in the UK hotel industry” after the UK began its Covid-19 vaccination programme.
Coutts has agreed £48m funding for the five-storey Hampton by Hilton London City hotel, at 12-20 Osborn Street, which covers the refinancing of the original acquisition loan for the site.
Dominvs first bought the location, formerly the Arbor City Hotel, in October 2018. The new plans will offer 118,000 sq ft of hotel space across 278 rooms and suites, with practical build completion scheduled for June 2023.
Clydesdale Bank will provide £20.5m refinancing for Oxford’s Courtyard by Marriott Oxford City Centre hotel, at 15 Paradise Street. It covers an incumbent loan that funded its development.
The six-storey, 151-bedroom hotel was completed in July 2019. The developer originally bought the site in 2014.
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