6th Nov 2013 12:29
LONDON (Alliance News) - Property investment company CLS Holdings PLC Wednesday said it has signed a franchise agreement with InterContinental Hotels Group for a 93 bedroom Staybridge Suites Hotel at its mixed-use development in Vauxhall, south London.
This will be the second Staybridge Suites the hotel giant will open, after opening in Stratford, east London last year.
CLS said the franchise agreement, which is for a 15 year term forms an important part of the GBP80 million mixed-use development, which will include 400 student rooms.
The site is scheduled to be completed in September 2014.
CLS shares were trading at 1,200.00 pence Wednesday morning, down 38.00 pence or 3.1%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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