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Business

Spa Hotel in Tunbridge Wells secures multi-million pound refinance deal with Allied Irish Bank

By: Chris Britcher cbritcher@thekmgroup.co.uk

Published: 08:45, 18 June 2019

Updated: 08:47, 18 June 2019

One of the county's most prestigious hotels has secured a multi-million pound refinancing deal to allow it to continue its major refurbishment programme.

The Spa Hotel in Tunbridge Wells, owned by Scragg Hotels, has reached a deal with Allied Irish Bank.

Explains owner Anthony Scragg: "We are very excited about this relationship and embarking on a new chapter in our ownership of hotel. Securing this deal will allow us to continue to refurbish the hotel to the standard we desire whilst continuing to grow trade. We have big plans for the future and with this backing will allow us to realise these plans sooner.”

The Spa Hotel in Tunbridge Wells (12536665)

Originally built in 1766 as a country mansion, The Spa Hotel first opened its doors to guests in 1880 and has a long-established history in the centre of Tunbridge Wells.

Boasting 70 rooms, a restaurant and contemporary bar and brasserie, the venue also offers spa packages.

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Colin Ridgway, deputy area director of Allied Irish Bank (GB), said: “It’s an exciting time for The Spa following their refurbishment which is sure to further cement their position as one of the area’s most prominent and desirable hotels. 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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