I don't even think the hotel was even a relevant factor to obtain the funding!
Below I give the criteria for eligibility to apply for a FF loan and the second link is the 265 companies (which now include FV) who have turned their loans to equity - and what a random assortment they seem to be!What is the company eligibility criteria for the Future Fund?
To be eligible for the scheme, a company must meet the following eligibility criteria:
the company must have raised at least £250,000 in equity from third-party investors in previous funding rounds in the last five years (from 1 April 2015 to 19 April 2020, inclusive);
if the company is a member of a corporate group, it must be the ultimate parent company;
the company does not have any of its shares or other securities listed/quoted on a regulated market, a multilateral trading facility, a recognised investment exchange and/or any other similar market, stock exchange or listing venue;
the company must be a UK incorporated limited company or be eligible to apply as a non-UK parent company (see specific eligibility criteria in the FAQs for non-UK parent companies);
the company must have been incorporated on or before 31 December 2019 (or if you are a non-UK jurisdiction company, this criterion applies only to at least one UK subsidiary operating company, and
at least one of the following must be true for the company (this criterion applies to your group):
half or more employees are UK based; and
half or more revenues are from UK sales.https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/future-fund/faqs-for-companies/Companies in which the Future Fund has a shareholding
At 31 December 2021, 265 convertible loans had converted into equity shares. The British Business Bank will update the list of companies in which Future Fund has a shareholding at the end of every financial quarter.https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/future-fund/future-fund-companies/