InterContinental Hotels Group, today announces the launch of
the Staybridge Suites brand in the UK with the signing of two management and
franchise agreements with Stay Investments Ltd and The Splendid Hotel Group.The new build 124 bedroom Staybridge Suites, Brentford, London will open in late 2006 and marks the introduction to the UK market of the first major hotel brand focused on extended stay guests - those who stay for more than five nights. The hotel will be managed by IHG under a 20 year management agreement with Stay Investments Ltd.
A further 113 bedroom new build Staybridge Suites will open in South Bank, London in late 2006. The hotel will be managed by IHG for the first three years before converting to a 17 year franchise agreement with The Splendid Hotel Group.
IHG currently operates 79 Staybridge Suites in North America and with 52 new properties in the pipeline it is the fastest growing upscale extended stay brand in the market.
Andrew Cosslett, Chief Executive, InterContinental Hotels Group, said: “We have worked closely with our network of franchisees to build the success of the Staybridge Suites brand in the United States. We are now able to use our American experience and expertise to extend the brand into the UK market, illustrating the power of operating a family of brands across key market segments. As an industry leader we see opportunity to drive innovation and creativity in new markets. Extended stay is one of the fastest growing segments in the US and we believe that this trend will follow in the UK, where we aim to lead the market.”
Louis Woodcock, Director of Stay Investments Ltd, added: “We have eagerly watched the success of Staybridge Suites in the United States and are delighted to have this opportunity to work with IHG to lead the extended stay market in the UK.”
Mr Shiraz Boghani, Managing partner, The Splendid Hotel Group, added: “Developing Staybridge Suites reinforces our excellent relationship with IHG and illustrates our belief in the future growth of the exciting extended stay segment. “