The facility will provide the business with the liquidity needed to take advantage of the opportunities presented by Covid-19 and increase its portfolio.

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Ben Barbanel, head of debt finance at OakNorth Bank (pictured above), and Mohith Sondhi, senior debt finance director at OakNorth Bank, said: “The Arora Group is one of the UK's fastest growing and most successful privately-owned companies, so it’s fair to say it has the pick of the litter when it comes to debt financing. 

“The 20-year track record of the group speaks for itself and despite the challenges Covid-19 is presenting to the sector, Arora Group is still being able to identify interesting opportunities to grow its portfolio.”

They added that they were glad to have been able to support the Group and look forward to continuing to build on the relationship.

Surinder Arora, founder and chairman at Arora Group, commented: “Covid-19 has inevitably presented numerous challenges for our sector, but as we found during the 2008 financial crisis, unique opportunities arise in times of economic turmoil. 

“This loan from OakNorth Bank provides us with the liquidity to take advantage of these opportunities and focus on playing for the upside, when many others will be distracted trying to protect the downside.”

The Arora Group is made up of three parts: Arora Hotels, Grove Developments and Arora Property.

It has a portfolio of 30 properties across the UK, including over a dozen hotels, as well as residential and commercial office units.