It marks the second transaction within this partnership after Leumi provided a €51m facility to refinance the Morrison Hotel in Dublin in 2023.

The Marriott Manchester is located in the centre of the city and has 338 rooms, 12 events spaces, as well as extensive — it is the newest Marriott branded property in the city.

The Edinburgh Marriott Hotel Holyrood, which is similarly centrally located, has 160 rooms, as well as amenities and a conference area, spa, gym, and pool — following its acquisition by funds managed by Zetland Capital, the hotel has undergone refurbishment.

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Commenting on the deal, Ahmed Hamdani, managing partner and CIO at Zetland Capital, said: “In our second transaction together, Leumi UK’s support has been invaluable, showcasing deep expertise in the hotel sector and our investment strategy.

“These best-in-class assets, enhanced by our refurbishments, are well-positioned to thrive in Edinburgh and Manchester’s strong tourism and business travel markets.”

Liam Mullans, relationship director at Leumi UK, commented: “This refinancing illustrates how we leverage our deep hospitality market expertise to deliver bespoke funding solutions for our clients, and act to ensure we are meeting their needs.

“The two assets have immense potential, and our ability to work hand-in-hand with Zetland Capital, was key to completing this deal.”