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Westfield Stratford City hotel deal confirmed
Cycas Hotel Partners and Patron Capital have secured the long-term leasehold rights for two hotels being built at London's Westfield Stratford City development.
Due to open ahead of the 2012 Olympics, the agreement encompasses 350 rooms and suites and include a Holiday Inn (188 rooms) and a Staybridge Suites property (162 suites). Cycas Hospitality will operate the hotels under a franchise agreement with Intercontinental Hotels Group. Westfield will lead the construction phase.
John Wagner, director at Cycas Hotel Partners, said: "The new Holiday Inn and Staybridge Suites at Westfield Stratford City will be situated in one of London's most important new developments." Patron Capital director of hospitality Josh Wyatt added: "The project represents a prime opportunity to own and operate a large scale hotel scheme in London."
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