A Scottish boutique hotel has secured a £4.8m loan to expand its brand into Glasgow and Manchester.
House of Gods, founded in 2019 by brothers Mike and Ross Baxter in Edinburgh’s Cowgate, was named the Sunday Times Best Hotel in Scotland 2020.
The business secured a £5m from leisure and hospitality investor IMBIBA in February, with the latest funding coming from OakNorth Bank to support the expansion into other cities and launch of a new Casablanca Cocktail Club in Edinburgh.
The original hotel was partially funded in 2019 with a £1.1m loan from Oak North Bank in 2019.
Mike and Ross Baxter said: “The Edinburgh hotel has been incredibly well received and we feel both Glasgow and Manchester are perfect locations for expansion - the business has traded well and found opportunity in two fantastic new sites.”
When hotels were allowed to re-open in late April this year, House of Gods achieved 90% occupancy in May and 95% occupancy in June.
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