Rogue City Hotel Group has secured £21m funding from Tikehau Capital to continue construction on its sites The Wellington in Glasgow and The Hobson in Cambridge – both due to be completed in 2022.
The group, which owns and operates Dunalastair Hotel Suites – a multi award-winning five-star hotel in the Scottish Highlands – has “major plans” to expand over the next few years.
The Wellington in Glasgow is a former Tribunal Court listed building, which will be restored into a 98-bedroom all-suites boutique hotel and meeting space scheduled to open in summer 2022.
The Hobson will be a 56-suite luxury hotel and meeting space centred around an atrium style restaurant housed in a Grade II listed former police station. The hotel will be located on St Andrew’s Street in Cambridge’s city centre, opening in September 2022.
The properties will be delivered by Henley Construct, under Henley Homes Group PLC.
Nassar Khalil, founder and CEO of Rogue City Hotel Group and Leisure, said: “It has been a pleasure working with Tikehau Capital on this transaction over a seven-week seamless closing process, which shows confidence in our concept, in one of the most challenging times for the hospitality industry.”
Jean Odendall, fund manager at Tikehau Capital, added: “We are very happy to have partnered with Rogue City Hotel Group to help them develop this ambitious project.
“This transaction is illustrative of our opportunistic and innovative strategy, leveraging Tikehau Capital’s alternative investment platform to provide flexible capital during a uniquely challenging period of time, and supporting projects and teams in which we believe in.”