German hotel company, Amano Group has secured a £49m deal is to open its first site in the UK, which will launch in 2022.
The firm, which has 15 hotels across Germany, clinched the deal with Leumi UK, Israel’s international bank to finance the transformation of London's Drury House, a former office building, into the 141-bed Amano Covent Garden Hotel.
Amano has partnered with London-based investment firm Excellion Investments to develop the new site under the Manex Properties umbrella.
Robert Stafler, director, Manex Properties, said, ““Manex was created with a vision to add a new flavour to London’s hotel landscape. We are pleased to have closed this financing with Leumi UK, whose excellent team has been a strong and reliable partner for us right from the get-go.
“The success of this financing during the pandemic is testament not only to our relationship with the bank, but also to the strength of our team and our unique location in the heart of Covent Garden.
“Amano Hotels are an established, award-winning franchise in Germany, and we look forward to launching the Amano brand here in London in 2022.”