HW Corporate Finance South East has concluded first-round capital fundraising for a new contemporary hotel chain, the Icon Hotels Group, based in Reading.The team at HWCF led by partner David Lock worked with management Charles Kaye and Huw O-Connor to develop the business plan before sourcing a funding partner and project managing the transaction.
Funding comes from ESO Capital, a European private equity investor founded in 2006.
Icon Hotels aims to source under-performing hotels across the UK, refurbish them to a quality standard, and then operate them as professionally run budget hotels.
"The intention is to build a strongly branded group which gives the business traveler a compelling alternative to some of the bland economy offerings on the market," said a statement.
Resources: HW Corporate Finance website
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