“Despite market challenges, Samko has demonstrated strong management, a clear strategy and impressive resilience. This funding will give them the flexibility and confidence to pursue new opportunities while strengthening their offering”
– Kate Finney – Cynergy Bank
Cynergy Bank has agreed a £30.9m funding package with Samko Holdings to support the next phase of the company’s growth strategy and further expansion of its regional hotel portfolio.
The transaction will enable Samko to continue investing in its existing estate, add new hotel rooms, and pursue additional site acquisitions. The business operates four hotel sites across London and has outlined plans for further expansion.
The funding comes at a time when the hospitality sector continues to face difficult trading conditions, including rising operating costs, shifting guest expectations and ongoing volatility following the pandemic. Cynergy Bank said its support provides Samko with the stability to progress its growth plans while maintaining occupancy levels and a consistent market presence.
Part of the facility will be used to support a hotel that has recently transitioned out of a long-running contract. Following the wind-down of that agreement, the property has reopened as a standard hotel after undergoing refurbishment and a relaunch aimed at attracting both leisure and corporate guests.
Samko Holdings was founded by Sampathkumar Mallaya and initially focused on the industrial and engineering sector before diversifying into hospitality and leisure. Its portfolio has since expanded into regional hotels, with further acquisitions planned.
“We’re delighted to support Samko Holdings at a pivotal moment in their growth journey,” said Kate Finney, relationship director at Cynergy Bank. “Despite market challenges, Samko has demonstrated strong management, a clear strategy and impressive resilience. This funding will give them the flexibility and confidence to pursue new opportunities while strengthening their offering.”
“This partnership marks an important milestone for our business,” said Veeraakumar Krishnasamy, group chief financial officer at Samko Holdings. “The support from Cynergy Bank allows us to continue expanding our footprint while ensuring we can invest in our existing sites, especially the hotel transitioning from a government contract back to its core commercial operation. We have further acquisitions in the pipeline and look forward to bringing more high-quality hotels and hotel rooms to market in the months ahead.”
“It was a pleasure to work alongside Cynergy Bank on this transaction,” said Kumar Nadarajah, mortgage and commercial finance broker at Morgan Sterling. “Despite a challenging hospitality market, Samko’s clear strategy and strong track record made this a compelling funding opportunity. This facility puts the business in a great position to continue investing in its portfolio and pursue its next phase of growth with confidence.”
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