Leading UK hotel group Apex Hotels has secured a £29million funding package from Lloyds Bank Commercial Banking to build its first hotel in Bath, which will create more than 100 new jobs in the area.
Established in 1996, the business is building the new 177 bedroom Apex City of Bath Hotel on James Street West.
Once complete, the four-floor hotel will be the largest in Bath.
Due to open in the summer of 2017, the £35million hotel will feature a swimming pool, gym, and conference and meeting facilities that have a capacity of more than 420 people to cater the city’s flourishing corporate district.
Once open, the hotel is set to create up to 120 full time positions including front of house, kitchen and housekeeping roles.
Apex Hotels, which has a turnover of £57.2 million, is based in Edinburgh and currently operates nine hotels in Scotland and London, with Apex City of Bath being its first venture in England outside the capital.
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.
“With the new development, we’ll be able to offer a new contemporary hotel to the people of Bath, ideal for both tourists and professionals travelling to the city.
“Following a strong financial performance, our expansion marks the company’s 20th anniversary with a new venture that supports our long-term visions of growth.”
Alistair Macpherson, relationship director at Lloyds Bank Commercial Banking, said: “Apex Hotels has delivered strong growth in recent years thanks to its expansion into new regions.
“The business has a reputation for high quality service and facilities and we’re pleased to have supported its first venture in the South West.
“Once complete, the hotel will not only be the largest one in Bath but will create more than 100 full time jobs in the area, giving the local economy a boost.
“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.”