Firmdale Hotels, the operator of boutique hotels in London and New York, US, has secured £188m from Barclays Corporate in order to fund the next phase of its expansion plans.

The latest facility includes the provision of financial support for new developments, such as the group's latest scheme comprising a 92-bedroom property at Ham Yard, London.

More than 20 residential apartments and retail units also form part of the Ham Yard scheme, which will see the hotel become Firmdale's seventh in the capital.

Barclays has also agreed to refinance Firmdale's existing facilities over a three- to five-year term, which will help provide security of liquidity for the duration of the period.

Firmdale director Malcolm Soden said: "As a hotel developer as well as operator our banking relationship is critically important to not only our existing business but also to our growth aspirations.

"Having already provided development finance for five of our hotels over the years, Barclays have once more stepped up to the plate and enabled our new Ham Yard development to progress."

Image: Crosby Street Hotel Lobby