Criterion Capital has secured a £25 million investment facility from Cynergy Bank to aid the expansion of the Zedwell hotel brand.
This is the latest in Criterion’s plan to expand of sleep-focused hotel concept, and follows the news in August that Criterion secured £25 million in financing from Bank of London and The Middle East PLC (BLME) for an office to hotel conversion in Trafalgar Square.
Zedwell portfolio includes hotels in Park Lane and Greenwich as well as sites in Manchester and Edinburgh. The company also has 13 new sites in development and is set to expand its portfolio to 8,000 rooms by 2027.
What they said
Omar Aziz, director at Criterion Capital said: “This £25 million equity release is pivotal in accelerating the Zedwell brand's UK-wide expansion. We are looking forward to turning prime sites in cities across the UK into vibrant and thriving hospitality assets.”
Nishil Tanna, relationship director at Cynergy Bank added: “We are excited to partner with Criterion Capital on this transformative journey. Their vision for Zedwell aligns perfectly with our commitment to supporting growth and we look forward to seeing their continued success as they bring Zedwell to some of the UK’s most iconic locations.”