Rogue City Hotel Group Secures £ 21m Funding for Two New Hotels | Item
Rogue City Hotel Group has secured Â£ 21million in funding from Tikehau Capital to continue construction of its sites The Wellington in Glasgow and The Hobson in Cambridge – both to be completed in 2022.
The group, which owns and operates the Dunalastair Hotel Suites – an award-winning five-star hotel in the Scottish Highlands – has ‘major plans’ for expansion over the next few years.
The Wellington in Glasgow is a former Tribunal Court listed building, which will be restored to a 98-room boutique hotel with suites and meeting space slated to open in summer 2022.
The Hobson will be a luxury hotel with 56 suites and meeting space centered around an atrium-style restaurant housed in a former Grade II listed police station. The hotel will be located on St Andrew’s Street in Cambridge city center and will open in September 2022.
The properties will be delivered by Henley Construct, under Henley Homes Group PLC.
Nassar Khalil, Founder and CEO of Rogue City Hotel Group and Leisure, said: âIt was a pleasure working with Tikehau Capital on this transaction during a flawless seven week close process, which demonstrates confidence in our concept, in one of the most difficult times for the hospitality industry. “
Jean Odendall, Fund Manager at Tikehau Capital, added: âWe are very happy to have partnered with Rogue City Hotel Group to help them develop this ambitious project.
“This transaction illustrates our opportunistic and innovative strategy, leveraging Tikehau Capital’s alternative investment platform to provide flexible capital during a particularly difficult time, and support the projects and teams we believe in.”