UK hotel group Z Hotels has announced plans for a new London property close to Trafalgar Square.
The hotel will be housed within a converted office building on Chandos Place, around five minutes’ walk from Charing Cross and Leicester Square stations.
Z Trafalgar Square is set to open in the fourth quarter of 2019, and will feature 123 rooms and a café.
The Z Hotels brand was launched in 2011, and now operates eight London properties in Soho, Victoria, Piccadilly, Shoreditch, The City, Tottenham Court Road, Gloucester Place and Covent Garden, as well as hotels in Liverpool, Glasgow and Bath. A further property is also under development in London’s Holborn.
Commenting on the news Deepesh Thakrar, Senior Director, Debt Finance at OakNorth – which is financing the Trafalgar Square property – said:
“UK hotels have enjoyed record trading this year, underpinned by the increase in overseas leisure travel, two royal weddings, and the value of the pound being at its lowest rate against the dollar in three decades.
“Z Hotels with its convenient and incredibly central locations, affordable prices, and high quality, has been in a prime position to take advantage of this boom. The group achieves much higher occupancy rates and margins than its peers and has proven that it can maintain this across an increasingly expanding portfolio.
“We’re delighted to have supported them with the finance to develop their Trafalgar Square site and look forward to working with them in the future.”