Ulster Bank has agreed a £30 million funding package to support Beannchor Group’s ongoing expansion of its Bullitt Hotel brand.

The facilities refinance the Bullitt Hotel in Belfast and provide capital for the group’s Dublin plans, which include a 98-bed, four-star Bullitt on Capel Street in the city centre, close to the River Liffey, Temple Bar and Henry Street's retail area.

As part of the scheme, Beannchor intends to reopen a Victorian laneway that has been closed to the public for more than 140 years, launching several new eateries and a bar in phase one, with the hotel expected to follow in 2028.

Ulster Bank remains a leading lender to Northern Ireland's hospitality sector, having supported a range of local hotel groups with acquisition and development finance in recent years.

James Sinton of Beannchor Group says that the financing of both Bullitt Hotels by Ulster Bank is an important part of the group's growth: "We are extremely grateful to the team at Ulster Bank for their support. This funding represents an important strategic milestone for us and will help enable our expansion plans, including the development of a new Bullitt Hotel in Dublin. Beyond the finance, the Ulster Bank team’s extensive hospitality expertise and insight have been hugely valuable throughout the process."

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Kenton Hilman, Head of Corporate and Property at Ulster Bank said: "Beannchor is one of Northern Ireland's most innovative and successful hospitality businesses and we are very pleased to support the group with the refinancing of Bullitt Hotel Belfast and finance for the planned Bullitt Hotel in Dublin. This builds on Ulster Bank’s strong reputation in the hospitality sector and supports one of Northern Ireland’s leading hospitality businesses as it continues to expand and grow in its existing market and in an important new market."

Beannchor is a family-owned company founded by chief executive Bill Wolsey, a leading Northern Ireland hotelier and businessman, who marks 50 years in business this year.

The group's diverse portfolio spans hotels, restaurants, bars and nightclubs, with a strong record in the sensitive restoration and reimagining of historic and listed buildings. Landmark projects include Belfast's Merchant Hotel, The Dirty Onion and The National. Bullitt Dublin will be its largest and most complex project to date.

In Belfast, alongside Bullitt Hotel and Little Wing Pizzeria, the portfolio includes The Merchant Hotel, Ollies, The National and Sixty6, The Dirty Onion and Yardbird.