News Source: www.insidermedia.com
New vision outlined for country hotel
News Source/Courtesy: www.insidermedia.com

Courtesy: Laurence Kilgannon | News Source: insidermedia.com

A country hotel in Buckinghamshire is set to become a four-star boutique establishment following an acquisition and an injection of finance.

Ziz Properties, which is owned by hotelier Karim Kassam, has purchased the 185 room Horwood House Hotel from Starwood Capital. 

The hotel will be run by Kassam’s management company, ZIZ Hospitality.

Kassam's plans include refurbishing the rooms, increasing the number of suites and upgrading the restaurant, bar and reception area.

The plans also include improvements to the pool and spa, and upgrades to the existing event spaces and the creation of a new additional wedding venue. 

The hotel will be repositioned as the Horwood House Hotel, taking it back to its historical origin.

Horwood House Hotel is set in 38 acres. It is a full-service hotel, with a 200-cover restaurant and 35 meeting and event rooms. The mansion house was built in 1911 as a country residence for the Denny family. The estate was the birthplace of renowned horticulturalist Percy Thrower - his father was the estate's head gardener.

Cynergy Bank provided a £10m loan over five years to assist with the acquisition with a further £2.05m loan over 18 months to help fund the refurbishments.

"The whole process of financing went smoothly and quickly, and this deal allows Ziz Properties to transform what was a good country hotel – into a great one," said Karim Kassam.  

"I am so pleased Cynergy Bank shared my vision for what Horwood House could become – a leading country hotel destination in the UK.”

Ravi Sidhoo, managing director at Cynergy Bank Private & Business Banking, added: "Karim's plans for Horwood House are exceptional.  

"His experience and vision is supporting the local economy beyond the hotel that are set to benefit from the refurbishment – not only in terms of contractors, but ongoing employment. 

"At Cynergy Bank we pride ourselves on working with our clients to understand their business needs and aspirations."

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News Source: www.insidermedia.com

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