Apex Hotels secures £60m of financing to support rural growth plans

Apex Hotels has secured a 90-million-pound refinancing package from Barclays to help it expand into rural areas

Barclays financed the purchase as part of a wider package aimed at helping Apex Hotels to remain competitive with its growth and investments in current portfolio.

In upcoming years Apex Hotels will try to invest and diversify its portfolio, the group said.

Apex Hotels CEO Angela Vickers said: "Barclays" refinancing package and expertise in hospitality will help accelerate our ambitious growth plans.

Jamie Grant, Managing Director of Barclays "corporate banking business in Scotland, said:" Our history in hospitality and hospitality has led to our support for Apex Hotels with a high-quality financing package of £60m to secure the acquisition of the Pine

Trees Hotel.

Apex Hotels was hard hit by the pandemic and its operating loss for the year was £11.2m.

Apex Hotels was founded by Scottish businessman Norman Springford in 1996 when he opened his first hotel in Edinburgh's historic Old Town.

Restaurant Apex Hotels & Dundee was named among the most-@-@ liked Instagrams in Britain last year.