The facility, which has the option of two additional one-year extensions, is secured against Holiday Inn Kensington Forum hotel, which is located near Gloucester Road underground station and is the third-largest hotel in central London, at around 500,000 sq ft and 906 rooms.

The loan replaces a £260m facility provided by Societe Generale after Queensgate bought the hotel from Apollo Global Management for £400m in 2015.