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Premier Inn secures £125m airport deal
Budget hotel chain Premier Inn has unveiled plans for the development of four new properties at three London airports as part of a £125m joint venture with Arora Family Trust.
The four sites at Heathrow, Gatwick and Stansted airports will add 1,570 bedrooms to the Whitbread-owned company's estate as part of a 'developer turn-key' deal with the trust, which is backed by hotelier Surinder Arora. Two of the hotels will be situated at Heathrow Airport, with a 5,400-room and a 4,240-room property set for Terminals 5 and 4 respectively. Meanwhile, a 300-room hotel will be developed at Stansted and a 630-room hotel is set to become the first terminal-based budget hotel at Gatwick's North Terminal.
Premier Inn already operates hotels at 14 airports across the UK and Ireland, and it is expected that the four new properties will be opened on a phased basis from autumn 2011 onwards. Mark Anderson, Whitbread's commercial and property director, said: "As air travel returns to long-term growth, we see opportunities to build our presence at airports. The success of the budget airlines has shown that there is an increasing demand for low-cost travel and that includes accommodation."
Surinder Arora added: "We are delighted to have reached this landmark agreement with Premier Inn which very much complements our existing Arora Hotels portfolio and presence at Heathrow, Gatwick and Stansted airports."
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