Scottish hotel group Apex to grow UK portfolio with £29m BoS injection
Edinburgh-headquartered Apex Hotels has secured a £29milion funding package from Bank of Scotland to expand its UK portfolio with the development of its first hotel in England.
This will be Apex Hotels’ first venture in England outside of the capital with Apex City of Bath.
The group has a turnover of £57.2 million and currently operates nine hotels in Scotland and London.
The business is building the new 177 bedroom Apex City of Bath Hotel on James Street West and will create more than 100 new jobs in the area. Once complete, the four-floor hotel will be the largest hotel in Bath.
Due to open in the summer of 2017, the £35million hotel will feature a swimming pool, gym, and conference and meeting facilities that have a capacity of more than 420 people to cater the city’s flourishing corporate district.
Once open, the hotel is set to create up to 120 full time positions including front of house, kitchen and housekeeping roles.
Ian Springford, chairman at Apex Hotels, said: “The new hotel in Bath is an exciting opportunity for the Group and we’re proud to have secured a great location in a booming city. With the new development, we’ll be able to offer a new contemporary hotel to the people of Bath, ideal for both tourists and professionals traveling to the city.
“Following a strong financial performance, our expansion marks the company’s 20th anniversary with a new venture that supports our long-term visions of growth.”
Alistair Macpherson, relationship director at Bank of Scotland, said: “Apex Hotels has delivered strong growth in recent years thanks to its expansion into new regions. The business has a reputation for high quality service and facilities and we’re pleased to have supported its first venture in the South West.
“We’re committed to supporting ambitious business like Apex Hotels as they expand into new markets, which will allow them to drive long-term growth.”