The company has announced the acquisition of a freehold property near London’s Trafalgar Square. After validation of its planning proposal, the site on the Strand will be developed into a hotel.
A hub by Premier Inn hotel is expected to open its doors in 2027. The property will also house one the company’s popular Bar+Block steakhouses. The investment is part of Whitbread’s plans to further develop the Premier Inn brand in the British capital, one of its most important markets. hub by Premier Inn was launched in 2014 and now has a portfolio of 2,431 keys across London and Edinburgh.
The acquisition as well as the development are being funded by Whitbread’s existing cash resources. The total investment stands at over €237.4 million (£200 million), which also includes construction and other related expenditures.
A 205-room Park Hyatt hotel had originally been planned for the site, but the decision was made to demolish the building by owners ABIL Group in 2019.
I'm delighted that we've been able to acquire this iconic location, which is set to become our latest hub by Premier Inn hotel. It is in a prime position and is perfect for the hub brand which is continuing to perform well. The purchase reinforces our confidence in the long-term potential of the London market, the hub by Premier Inn brand and the growth prospects of our UK business.
Alison Brittain, CEO of Whitbread
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