The conveniently located hotel, which will have 95 rooms, will be the brand’s new showcase property, and is at 3-5 Charing Cross Road. As usual, it will be offering the affordable, compact luxury style that Z Hotels has built its reputation on. Guests will note the smart ground floor reception, while during their stay they will also benefit from state of the art building systems and new low carbon technologies, to help improve efficiency and reduce operating costs.
Compact style, city centre location
“Whether our customers are here to explore London’s rich culture, attend a show, or simply enjoy a weekend getaway, our Leicester Square property will offer everything they need in a stylish and welcoming environment, which is a Z Hotels guarantee,” said Z Hotels CEO Bev King.
Development of the new hotel was supported by a GBP23m loan provided jointly by lenders OakNorth and ASK Partners. This followed OakNorth’s previous support for the hotel group, refinancing debt and backing an extension at Z Hotel in Piccadilly which added 20 more bedrooms.
The Z Hotels brand was launched in 2011, offering a simple format of smart, simple hotels with compact rooms, in great city centre locations. For those that appreciate the comvenience of being close to the action, but don’t want the complexities of a gym or restaurant in their hotel, the format has proved to be an ideal place to stay.
London has remained a key focus for further expansion, with 12 of the group’s properties in the UK capital. Further sites have been signed in regional cities, and today Z Hotels are also operating in Bath, Glasgow and Liverpool.
Smart conversions
Z Hotels has grown by often taking on older, smaller office buildings on multiple floors, which fail to meet the needs of modern office occupiers, who prefer to occupy larger open single floors in modern blocks with a larger footprint. By converting these properties. Other properties have also been created from conversions, such as Z Soho, which is a conversion of twelve Georgian townhouses.
In mid 2023, strategic real estate investor Aprirose acquired a 50% stake in Z Hotels, an acknowledgement of the success of the business. Aprirose has long experience investing in the hotel space, and now expects to help drive growth forward. “This is the first new property development for Z Hotels since the pandemic and indicates a bounce back in demand for London hotels,” said Aprirose chief investment officer Meenal Gudka. “We are targeting additional development opportunities to capitalise on the current dislocation in the office market, with a continued focus on West End London.”
