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Ability Group has acquired a £24.6m loan facility against the Bristol airport Hampton by Hilton Hotel from Ask Partners to refinance an existing facility and fund an extension of the hotel to create a further 50 bedrooms.
The Ability Group acquired the Hampton By Hilton Bristol Airport from CIMC Capital Ltd. in a £24m deal in 2020.
The hotel comprises 201 bedrooms, two meeting rooms, a gym, lounge area and food and beverage facilities.
It is located adjacent to the airport’s terminal; the only branded hotel at Bristol International Airport.
Daniel Austin, CEO and co-founder at Ask, said: “We were delighted to provide Ability Group with the funding required to expand this successfully operated hotel, managed by a well-known brand, in line with the airport’s growth plans.
“The proposed build, in keeping with the original construction, will extend the hotel without disrupting the hotel’s on-going operations. Bristol Airport is the UK’s 8th largest airport, servicing commuters from Southwest England and Wales. With the increase in travel and terminal side hotel demand post-Covid, coupled with the Bristol airport expansion plans, we felt this was a strong business proposition that we were happy to underwrite.”
