Financing has been secured to allow the completion of the delayed development of a 175-bedroom Hilton hotel at the Rose Bowl in Southampton, home to Hampshire County Cricket Club.
The development was held up last year when the contractor, Denzien, went into administration. Now finance group Omni Capital, owned by Christian Candy, has agreed to fund the £27.4m project, which is being restarted with Powells Group as the new contractor.
The hotel itself will feature pitch-facing bedrooms.
Dan Smith, head of Omni Cpaital Structured Finance, said: "The Ageas Bowl represents the future of international cricket in the UK , and the project will have an overwhelmingly positive impact on the local community.
The development is a collaboration between RB Sport & Leisure Holdings, the parent company of Hampshire Cricket, and Eastleigh Borough Council. The media centre will be finished ahead of the England v India test match on 27 July, with the rest of the project completed in spring 2015.
The Hilton Ageas Bowl will be managed by Interstate Hotels & Resorts under a franchise agreement with Hilton Worldwide.