Veld Capital and Maya Capital have secured a £45.7 million loan from OakNorth to develop a new 222-bedroom hotel operated by Motel One at Blackfriars Road, London.

Information on the Target

The project involves the development of a 222-bedroom upper-midscale hotel located at 160 Blackfriars Road, Southeast London. The hotel will be operated by Motel One, a Munich-based affordable lifestyle hospitality company that currently manages more than 90 hotels across 14 countries in Europe and the United States. The strategic location allows easy access to major tourist attractions, including the Tate Modern, the London Eye, Borough Market, and The Shard, significantly enhancing its appeal to visitors.

The investment for the new hotel involves a £45.7 million loan from OakNorth, which will facilitate the refinancing of existing debt, assist in funding development costs, and provide working capital needed for the initial stages of hotel operations.

Industry Overview in the UK

The hospitality industry in the UK has shown resilience and adaptability, particularly in major cities like London which are global tourism hubs. Despite fluctuations in international travel trends due to economic conditions a