Criterion Capital has secured a £25m investment facility from Cynergy Bank to fund the rollout of its Zedwell hotel chain.
The chain currently operates three Central London sites and has 13 new sites in development, in locations such as York, Manchester and Edinburgh. It intends to offer 8,000 rooms by 2027.
Zedwell hotel rooms feature soundproof walls, floors and doors, Hypnos mattresses, purified air and warm ambient lighting.
Omar Aziz, director at Criterion Capital, said: “This £25m equity release is pivotal in accelerating the Zedwell brand’s UK-wide expansion. Working with Nishil and the Cynergy Bank team has been a pleasure. Thank you also to Vijay Parikh and the Harold Benjamin team for representing us. 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.”
