Kew Green Hotels, the privately owned hotel group, has completed a £140m refinancing of its funding facilities.

The company has secured new longer term financing through a syndicate of banks comprising Bank of Scotland Integrated Finance, Barclays and Lloyds TSB.

Kew Green has replaced its existing facilities and secured additional funding that will enable it to accelerate a refurbishment and extension construction programme.

Jeremy Richardson, joint managing director of Kew Green Hotels, said: “The completion of this refinancing means that the company is extremely well placed to continue its growth and take advantage of any opportunities that present themselves in the coming months.

London-based Kew Green Hotels was formed in 2001 and operates 19 hotels across the UK under four brands; Holiday Inn, Express by Holiday Inn, Crowne Plaza and Days Inn. The company will operate a new Courtyard by Marriott hotel at Gatwick Airport from early 2009.