Search
The Caterer

Kent Spa hotel secures multimillion-pound refinance deal

18 June 2019 by
Kent Spa hotel secures multimillion-pound refinance deal

The four-AA-star Spa hotel in Kent's Tunbridge Wells has secured a multimillion-pound refinance deal with Allied Irish Bank (GB).

Originally built in 1766 as a country mansion, the 70-bedroom hotel first opened its doors to guests in 1880 and recently underwent an extensive refurbishment. Owner Anthony Scragg plans to use the funds to continue to refurbish the hotel.

Scragg said: "Securing this deal will allow us to continue to refurbish the hotel to the standard we desire while continuing to grow trade. We have big plans for the future and with the backing of Allied Irish Bank (GB) this will allow us to realise these plans sooner."

Colin Ridgway, deputy area director, Allied Irish Bank (GB), added: "Without doubt hotel operators are starting to come under pressure with the concerns around Brexit but the strong management team at the Spa hotel are focused on the future and have invested wisely in the development of the hotel."

I'll Be Mother group reveals ambitious growth plans >>

Luxury hotel to open in Tunbridge Wells >>

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.