Criterion refinances Leicester Square hotel as it looks to grow Zedwell brand
Criterion Capital has secured a £65m loan facility with Coutts to refinance Hotel Indigo in Leicester Square, WC2.
Refinancing the four-star, 112-room hotel means Criterion can focus on expansion plans for its budget Zedwell hotel brand.
It has three Zedwell hotels in central London and 13 new sites in the pipeline, including locations in the City of London, York, Manchester, and Edinburgh, and aims to expand the portfolio to 8,500 rooms by 2027.
Criterion Capital has secured a £65m loan facility with Coutts to refinance Hotel Indigo in Leicester Square, WC2.
Refinancing the four-star, 112-room hotel means Criterion can focus on expansion plans for its budget Zedwell hotel brand.
It has three Zedwell hotels in central London and 13 new sites in the pipeline, including locations in the City of London, York, Manchester, and Edinburgh, and aims to expand the portfolio to 8,500 rooms by 2027.
Omar Aziz, director at Criterion Capital, said: “Securing this loan facility with Coutts marks a pivotal milestone as we continue to grow our hospitality ventures. Zedwell embodies our vision of delivering distinctive hospitality experiences in prime city locations, and we are excited to strengthen our presence across the UK, driving sustainable tourism and supporting regional economic growth.”
Oliver Powell, director at Coutts, said: “We are delighted to have entered into this new relationship. It’s a very significant transaction for the Coutts Hotels Team and meets our key drivers of appetite in terms of location, operating model and private ownership.
“Criterion Capital has an inspiring vision for its Zedwell hotel brand and we look forward to collaborating with it as it brings its successful London-based hotel model to key strategic locations across the UK.”
See property, land and ownership data for London WC2 >>
Photo © Criterion Capital
