Apex Hotels secures £29m

Apex Hotels have secured a £29m funding deal from Bank of Scotland to support its expansion in the English market. In 2017 the group plan to open a £35m, 177-bedroom hotel in Bath.
The group also revealed that turnover rose to £57.3m from £56.1m although pre-tax profits fell to £4.7m from £6.8m. Ian Springford, chairman at Apex Hotels, said, “Following a strong financial performance, our expansion marks the company’s 20th anniversary with a new venture that supports our long-term visions of growth.”