Roomzzz parent company secures £40 million funding package with RBS

George Sell George Sell Uploaded 05 September 2017

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UK: Parklane Properties, the Leeds-based parent company of Roomzzz aparthotels, has secured a finance package to expand its core brands.

The funding will be used to strengthen and implement future expansion plans for Roomzzz and the IconInc student accommodation brand.

Naveen Ahmed, director of Parklane Properties, said: "The past few years have been exciting for Parklane Properties and its sister companies. We have plans to grow even further. Our aim is to expand Roomzzz across the UK, while also setting a target of more than 10,000 IconInc bed spaces across the world's top university cities. The funding from Royal Bank of Scotland will allow us to grow our core brands, opening up a number of new opportunities to us."

Jonathan Ellis, relationship manager at Royal Bank of Scotland, said: "Parklane Properties is a strong operation, with excellent management. We've worked with the Ahmed family for more than 10 years, and have supported the business's evolution. It continues to go from strength to strength."

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