Criterion Capital completes £16m refinancing deal with Metro Bank
Property group Criterion Capital has secured a £16 million, five year, funding package from Metro Bank to refinance its Zedwell Greenwich hotel, which opened last autumn.
The hotel is strategically positioned in a tourist hotspot near the Cutty Sark and O2 arena and offers 123 rooms.
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The investment is central to Criterion Capital's expansion strategy and it has 13 more Zedwell hotels planned by 2027 across the UK.
"We would like to thank the Metro Bank team for their support of the ambitious plans we have for our innovative Zedwell brand," said Omar Aziz, director at Criterion Capital.
"The opening of Zedwell Greenwich marked a significant step in our strategic expansion. The hotel boosts the local economy and showcases Greenwich as a key destination for sustainable tourism by offering a unique, sleep-focused experience."
Nicholas Kalamaras, head of hospitality and leisure at Metro Bank, added: "Metro Bank has established expertise in financing hospitality and leisure businesses and we are really happy to see this deal complete as Criterion Capital continues its ambitious growth plans for the brand."
