Zetland Capital has secured a £70 million loan to refinance two four-star Marriott hotels in Manchester and Edinburgh.
The Marriott Manchester is located in the city centre and comprises 338 rooms across seven floor as well as 12 events spaces. The Edinburgh Marriott Hotel Holyrood - which has undergone refurbishment following its 2021 purchase by Zetland - comprises 160 rooms across six floors, a conference area, spa, gym and pool.
Provided by Leumi UK, the loan marks the second transaction between both companies after Leumi provided a €51m facility to refinance the Morrison Hotel in Dublin in 2023.
What they said
Ahmed Hamdani, managing partner & chief investment officer at Zetland Capital said: “Leumi UK’s support has been invaluable. These best-in-class assets, enhanced by our refurbishments, are well-positioned to thrive in Edinburgh and Manchester’s strong tourism and business travel markets.”
Liam Mullans, relationship director at Leumi UK added: “The two assets have immense potential and our ability to work hand-in-hand with Zetland Capital was key to completing this deal.”