Golden Tulip’s UK ambitions fuelled by extra funds
Hotel group Golden Tulip UK has secured financial backing that could see it open as many as 15 more hotels. The funding is coming from property investment firm Morley Fund Management.
What the Portsmouth hotel will look like The first hotel to be funded under the agreement is a 108-bedroom Tulip Inn on North Harbour Business Park in Portsmouth, Hampshire, which will open in October.
Morley will acquire the site, then lease it to Golden Tulip, which will run the hotel.Golden Tulip UK was launched in 2002 and already has two properties in Manchester and one in Glasgow.
New-build Tulip Inns near Gateshead (115 bedrooms) and Castleford (119 bedrooms) are scheduled to open later this year and negotiations are under way for seven further sites in London, Dublin, Belfast, Birmingham, Epsom, Swindon and Brentwood.
Golden Tulip UK plans to open 20 hotels over the next three years, with some 2,000 bedrooms in total.