Santander has agreed a large multimillion-pound loan with the real estate investment firm, London and Regional Hotels, for the refinancing and refurbishment of the London Marriott Hotel Marble Arch.

The refurbishment includes a full renovation of existing guest bedrooms and bathrooms and will increase the number of rooms on offer.

The freehold property is located in London's West End on the corner of George Street and Edgware Road and is in close proximity to Marble Arch. The area has a large offering of retail, office and residential spaces, with the wider surrounding area going through a long-awaited redevelopment, which is expected to create multiple growth opportunities for businesses in the proximity.

Neil Kirk, CEO UK & Europe at L+R, added: “We are pleased to have worked with Santander to support the refurbishment of the West End-located Marriott Marble Arch."

"This project is an exciting opportunity for both the hotel and local area. The redevelopment will encourage regional and overseas business and tourist interest, and we look forward to welcoming them through the doors of our newly designed property soon.”

Paul O’Reilly, Relationship Director, Santander Corporate and Commercial, added: “We are delighted to have supported London and Regional. The refinancing and refurbishment of the London Marriott Marble Arch will enable the hotel to offer enhanced accommodation and facilities to their guests."

"The rejuvenation of the hotel via this loan package will help L+R to grow further – we look forward to continuing to work with the team.”

London and Regional Properties was established in 1987 and has become one of Europe’s largest privately owned property companies with an international investment and development programme of c£9bn. L+R has been a client of Santander since 2010.