Queensgate secure Holiday Inn

HOTEL operator Queensgate Hotel Ltd has secured a funding package from The Royal Bank of Scotland (RBS) to support its acquisition of the Holiday Inn in Stevenage. Queensgate Hotel Ltd was set up in order to purchase the 140-bedroom hotel. The property is

HOTEL operator Queensgate Hotel Ltd has secured a funding package from The Royal Bank of Scotland (RBS) to support its acquisition of the Holiday Inn in Stevenage.

Queensgate Hotel Ltd was set up in order to purchase the 140-bedroom hotel. The property is freehold and is the first of the new generation Holiday Inn brand through a 20-year franchise agreement from InterContinental Hotel Group.

The hotel is situated in the centre of Stevenage and has a bar, lounge, restaurant, conference facilities for 300 people, car park and a fitness suite.

RBS structured a funding package which was put together by its banking specialist teams.

Jiten Kantaria, managing director at Queensgate Hotel Ltd said: "The Holiday Inn is one of the most recognised hotel brands in the world so we were excited when the opportunity to purchase the hotel came about."

Paul Halliday, relationship director at RBS, explained: "The Holiday Inn in Stevenage is a high quality hotel which benefits from a very experienced management team. A large percentage of customers are in fact corporate clients, attracted to the conference facilities and also the hotel's proximity to the Gunnels Wood Business Park.''

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