Bespoke secures £725,000 in funding for North West Hotels

UK: Bespoke Hotels, who manage over 80 hotels worldwide, have announced it has received a £725,000 funding package.

The package was secured by Barclays as a part of the government Coronavirus Business Interruption Loan Scheme (CBILS).

The loan has helped three hotels in the north west successfully reopen and maintain liquidity during lockdown. Hotel Gotham and the Mill at Chester have both already reopened, while The Chester Grosvenor is set to reopen on the 27th August.

Keith Herod, director for Barclays Corporate Banking, said: “Bespoke Hotels benefits from an excellent reputation built over many years, coupled with a highly unique portfolio of venues. When the pandemic forced its hotels to close, our understanding of the client and close relationship meant we could act quickly and appropriately to meet the new challenges they were up against in terms of providing vital liquidity and securing jobs until they could reopen their doors.”

Bespoke was founded in 2000, and has since grown into the UK’s largest independent hotel group, with £525m worth of assets and over 6,000 employees across the globe. The group most recently finished a management deal for 40 new hotels, and announced a new hotel Gotham to open in Glasgow.

Haydn Fentum, chairman of Bespoke Hotels, said “Barclays were outstanding at dealing with our request for a Coronavirus Business Interruption Loan. The support from their dedicated Hospitality and Leisure team with their knowledge of the challenges and issues facing the sector, mean these iconic North West hotels have been able to come through the challenge of lockdown whilst preserving local jobs and keeping the supply chain intact.”

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