As a part of this growth scheme, Apex Hotels recently made its first move into rural Scotland with the purchase of the Pine Trees Hotel in Pitlochry, financed by Barclays.

The recent sale of the Apex London Wall Hotel was a positive development, enabling the hotel chain to further its growth plans. Barclays’ ongoing support, coupled with these strategic property transactions, is projected to catalyse a period of growth for Apex Hotels over the coming years.

Jamie Grant, managing director of Barclays Corporate Banking in Scotland, said: “Our hospitality and leisure expertise has meant that we have supported Apex Hotels with a high value finance package of £60 million to help secure the purchase of Pine Trees Hotel.

“As hospitality and leisure operators continue to invest in property, acquiring new venues and in much needed environmental upgrades, tailored finance packages and relevant experience are key to giving clients what they need, with the added benefit of advice and introductions to relevant contacts.

“Our role is more than finance providers. We are there as collaborators and partners to support our clients, helping inform decisions and achieve business opportunities.”

Apex Hotels’ chief executive officer, Angela Vickers, added: “Barclays refinancing package as well as their hospitality industry expertise will help to accelerate our ambitious growth plans, not only to support continued investment in our existing city centre hotels, but to help us build a more diverse portfolio across rural and urban locations throughout the UK.

“Demand for high-quality hotels in the UK has never been stronger. The acquisition of Pine Trees Hotel kickstarts our growth strategy and the brand is perfectly positioned to capitalise on the tourism resurge by putting guests at the heart of everything we do.”

The Pine Trees deal team was led by Malcolm Crawford and Gordon McKean at Barclays Corporate Banking.