Jeremy Robson, managing director of asset management company RAM, told delegates at the Boutique Hotel Summit in London last week that the deal would give him the cash injection needed to refinance the Great Northern Hotel business, as well as bringing in the huge booking system offered by the unnamed hotel company.
“It’s difficult because we’ve got a great restaurant and bar within the hotel and we’re investing so heavily in brand value - do we want to bring in an entity that’s going to harm that?
“I think the location I have is strategic, its 25 metres from Eurostar. So it’s an easy decision not to have a brand there but there’s an offer I’ve got which is really compelling because of the way it’s structured and what they could bring."
Break clause
Asked exactly what was so compelling about a franchise offer on a property that benefits from a footfall of 135 million passengers passing nearby each year, Robson replied: “I can break it. It’s a simple as that.
“There are collections around which have the benefits of keeping your independence and your name but bringing in the booking system and basically not interfering with you.”
The Great Northern Hotel was London's first railway hotel, but it closed 12 years ago when improvement work started at St Pancras International and King's Cross.
Chef director
Robson's RAM was selected in 2009 to redevelop the Grade II Listed building as a modern boutique hotel with construction firm Mace brought in to renovate it and architects Archer Humphryes commissioned to execute the concept and interior design.
After three years of development work and restoration, the hotel opened last month under the guise of hotel director Marie Rodoni. Mark Sargeant is overseeing the food and beverage offering at the hotel, which includes the 90-cover Plum & Spilt Milk restaurant; the GNH Bar and takeaway service KIOSK.
The hotel’s bedrooms, which start at £250 a night, have been designed to mimic train compartments and it offers complimentary pantries where guests can help themselves to drinks, snacks, books and magazines.