Pearl Hotels has announced it will expand its Holiday Inn Gatwick hotel after receiving a £20.5m commercial loan from Metro Bank.
The group, which also operates a Holiday Inn franchise, will use the funds to enhance the facilities at its Gatwick location including the addition of a further 40 bedrooms and new conference facilities to the 118-room hotel.
Pearl Hotels was founded by Zahir Somani with the development of the Holiday Inn Express in Slough in 2005, followed by The Holiday Inn in Gatwick.
Mark Stokes, managing director of Commercial Banking at Metro Bank said: “We’re thrilled to support the development of Pearl Hotels. Championing business growth is something we’re incredibly passionate about at Metro Bank and we’re committed to our role in helping the business to flourish in a crowded hotel market.”
Somani added: “Metro Bank has been very professional in their approach, with the refinance process going through very smoothly, and in fact have been very supportive of our expansion plans altogether.”
