4C Hotel Group has inked a £65m deal to finance the development of the UK's first Canopy by Hilton-branded hotel in London's Aldgate.
Leumi UK, the London-based subsidiary of the Israeli international bank, has agreed a four-year loan with the company for the construction of the 342-bedroom Canopy London City, set to open its doors by March 2021.
The hotel will form part of the £76m Minories development in Aldgate and is expected to have a rooftop restaurant and a locally inspired deli/café.
Louise Gillon, head of hotel finance at Leumi UK, said: "This deal has fortified our long-standing relationship with 4C Hotel Group. Working with the team previously, we have always been very impressed by the quality of their developments and this one has been no different."
Al-karim Nathoo, managing director of 4C Hotel Group, said: "Working alongside our team, Leumi UK has yet again delivered outstanding service, enabling us to meet our capital needs while continuing to grow our portfolio."
4C owns six hotels in and around London, including EasyHotels in Victoria and Paddington, the Holiday Inn Camden Lock and the Holiday Inn Express in St Albans.