Metro Bank has provided a £20.5m commercial loan to Pearl Hotels Group to refinance existing borrowing and expand a hotel in West Sussex.
Pearl Hotels will use the funds to enhance its Holiday Inn in Gatwick with the addition of 40 more bedrooms and new conference facilities.
Mark Stokes, managing director of commercial banking at Metro Bank (pictured above), said: “We’re thrilled to support the development of Pearl Hotels.
“Championing business growth is something we’re incredibly passionate about at Metro Bank and we’re committed to our role in helping the business to flourish in a crowded hotel market.”
Zahir Somani, managing director at Pearl Hotels Group, added: “Metro Bank has been very professional in their approach, with the refinance process going through very smoothly, and in fact have been very supportive of our expansion plans altogether.”
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