Kent Spa hotel secures multimillion-pound refinance deal

18 June 2019 by
Kent Spa hotel secures multimillion-pound refinance deal

The four-AA-star Spa hotel in Kent's Tunbridge Wells has secured a multimillion-pound refinance deal with Allied Irish Bank (GB).

Originally built in 1766 as a country mansion, the 70-bedroom hotel first opened its doors to guests in 1880 and recently underwent an extensive refurbishment. Owner Anthony Scragg plans to use the funds to continue to refurbish the hotel.

Scragg said: "Securing this deal will allow us to continue to refurbish the hotel to the standard we desire while continuing to grow trade. We have big plans for the future and with the backing of Allied Irish Bank (GB) this will allow us to realise these plans sooner."

Colin Ridgway, deputy area director, Allied Irish Bank (GB), added: "Without doubt hotel operators are starting to come under pressure with the concerns around Brexit but the strong management team at the Spa hotel are focused on the future and have invested wisely in the development of the hotel."

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