Z Hotels to expand following £4m funding
Z Hotels, the boutique-budget hotel group with compact bedrooms in city-centre locations, has secured £4m of finance to fund its expansion.
Launched in 2012 with an 85-bedroom hotel in London's Soho, Z Hotels has since added further properties in Victoria, London, and Liverpool.
The funding from Santandar Corporate & Commercial will enable the company to open hotels in Glasgow and Piccadilly, London, this year, with further launches earmarked for the capital.
Z Hotels is owned and operated by Bev King, who was previously chief operating officer at Thistle Hotels, along with Rich Meehan, Jonathan Raymond and Jamie Goldstein.
Rich Meehan, the company's finance director, said: "The past three years has been an incredible time for the group, and we've outdone even our own expectations of success. We believe we have developed a very strong business model, one that chimes very clearly with our growing number of guests, and we remain very confident of our future plans both in London and around the UK."
Jackie Skelt, relationship director, Santander Corporate & Commercial, said: "Z Hotels has taken a simple idea and turned it into a very strong, successful business proposition, and we're thrilled to be supporting the group in its next phase of growth."
While some of the bedrooms are only 9sq m and a proportion are windowless, all offer free Wi-Fi, 40in LED high-definition TVs with Sky Sports and Sky Movies, power showers in en suite wet rooms, organic fibre beds from the Natural Mat company and 100% lambs' wool duvets.
