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Apex Hotels secures £29m funding to expand in England

By Sophie Witts , 30-Mar-2016
Last updated on 30-Mar-2016 at 12:13 GMT2016-03-30T12:13:19Z

Apex's £35m Bath hotel will open in 2017
Apex's £35m Bath hotel will open in 2017

Scottish group Apex Hotels has secured a £29m funding package to expand its portfolio in England.

The Edinburgh-based company will use the the Bank of Scotland investment to open its first English hotel outside of London – a 177-room site in Bath.

Though Apex first purchased the property in 2014, the hotel is not due to open until summer next year.

The £35m site will feature a swimming pool and gym and create 120 jobs.

Ian Springford, chairman at Apex Hotels, said: “The new hotel in Bath is an exciting opportunity for the group and we’re proud to have secured a great location in a booming city."

Though Apex did not comment on any future English expansion plans, Springford said the new site supported the company's 'long-term visions of growth'.

The hotel will be the tenth UK site for the group, which has an annual turnover of £52.7m.

Apex currently operates three hotels in London, four in Edinburgh, and one in both Glasgow and Dundee.

Alistair Macpherson, relationship director at Bank of Scotland, said: “We’re committed to supporting ambitious business like Apex Hotels as they expand into new markets, which will allow them to drive long-term growth.”