Zetland Capital has secured a £70m loan from Leumi UK to refinance two four-star Marriott hotels in Manchester and Edinburgh.
The Marriott Manchester is located in the centre of the city and provides 338 rooms across seven floors, as well as 12 events spaces and extensive amenities.
The Edinburgh Marriott Hotel Holyrood provides 160 rooms across six floors and features a large conference area, spa, gym and pool. Following the acquisition of the hotel by funds managed by Zetland Capital, the asset has been extensively refurbished.
Ahmed Hamdani, from Zetland Capital, said: “In our second transaction together, Leumi UK’s support has been invaluable, showcasing deep expertise in the hotel sector and our investment strategy. 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: “This refinancing illustrates how we leverage our deep hospitality market expertise to deliver bespoke funding solutions for our clients, and act to ensure we are meeting their needs. The two assets have immense potential, and our ability to work hand-in-hand with Zetland Capital, was key to completing this deal.”
