6th Apr 2005 07:01
InterContinental Hotels Group PLC06 April 2005 6 April 2005 INTERCONTINENTAL HOTELS GROUP TO LAUNCH STAYBRIDGE SUITES IN THE UK InterContinental Hotels Group (IHG), today announces the launch of theStaybridge Suites brand in the UK with the signing of two management andfranchise agreements with Stay Investments Ltd and The Splendid Hotel Group. The new build 124 bedroom Staybridge Suites, Brentford, London will open in late2006 and marks the introduction to the UK market of the first major hotel brandfocused on extended stay guests - those who stay for more than five nights. Thehotel will be managed by IHG under a 20 year management agreement with StayInvestments 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 yearsbefore converting to a 17 year franchise agreement with The Splendid HotelGroup. IHG currently operates 79 Staybridge Suites in North America and with 52 newproperties in the pipeline it is the fastest growing upscale extended stay brandin the market. Andrew Cosslett, Chief Executive, InterContinental Hotels Group, said: "We haveworked closely with our network of franchisees to build the success of theStaybridge Suites brand in the United States. We are now able to use ourAmerican experience and expertise to extend the brand into the UK market,illustrating the power of operating a family of brands across key marketsegments. As an industry leader we see opportunity to drive innovation andcreativity in new markets. Extended stay is one of the fastest growing segmentsin the US and we believe that this trend will follow in the UK, where we aim tolead the market." Louis Woodcock, Director of Stay Investments Ltd, added: "We have eagerlywatched the success of Staybridge Suites in the United States and are delightedto have this opportunity to work with IHG to lead the extended stay market inthe UK." Mr Shiraz Boghani, Managing partner, The Splendid Hotel Group, added: "Developing Staybridge Suites reinforces our excellent relationship with IHG andillustrates our belief in the future growth of the exciting extended staysegment. " Staybridge Suites will offer one bedroom and studio suites, fully equipped forthe extended stay business traveller, with rooms including a flat screen TV, DVDplayer and fully equipped kitchen including cooker, fridge/freezer, dishwasherand microwave. Free laundry and a grocery shopping services are also available. Extended stay - facts & figures • 8.8 million room nights were taken by UK domestic travellers who stayed more than five nights in the same place in 2003. • 5.1 million room nights were taken by overseas visitors to the UK who stayed more than four nights for business in 2003. • The extended stay market in the United States now has 280,000 rooms in approximately 2000 hotels. Notes to Editors Staybridge History 1997 Staybridge Suites by Holiday Inn is launched for long-stay travellers in America 1998 The first Staybridge Suites by Holiday Inn opens in Alpharetta, Georgia, USA 2002 Staybridge Suites becomes the first upmarket extended stay hotel brand to reach 50 hotels in just under four years 2003 InterContinental Hotels group (IHG) sells 16 Staybridge Suites hotels to Hospitality Properties Trust (HPT) for US$185 million and also enters into an agreement to manage these hotels 2003 HPT converts 14 other suite hotels to the Staybridge Suites brand under IHG management 2004 Staybridge Suites brand reaches 75 hotels with addition of Eatontown, New York. The brand reached this point of significant mass, faster than any of its competitors marking yet another distribution record within the extended-stay segment 2005 Staybridge Suites launches in the UK. • The Splendid Hotel Group, a private partnership, was formed in 1986and purchased its first 16 bedroom budget hotel in Bayswater, London. Expansionsoon followed into other areas of London including Victoria, Kings Cross and theEast End of London. In 1996, an opportunity arose to create the first Expressby Holiday Inn in London. Since then, the group has focused on establishing wellknown brands in key locations in Central London. The group has grown toencompass 15 hotels, 12 of which are branded. Splendid operates Holiday Inn,Express by Holiday Inn, Comfort Inn and Best Western. • Stay Investments Ltd was formed in 2005 as a Joint Venture betweenLouis Woodcock and BDL, a long with other partners. Louis Woodcock is founderand MD of BDL Ltd. BDL Ltd is a current franchisee of InterContinental HotelsGroup with 17 hotels including Crowne Plaza, Holiday Inn and Express by HolidayInn. High resolution images to accompany this story are available for the media to download free of charge at www.vismedia-online.com For further information please contact: Investor Relations (Gavin Flynn/Paul Edgecliffe-Johnson) +44 (0) 1753 410 176 Media Enquiries (Leslie McGibbon) +44 (0) 1753 410 425 InterContinental Hotels Group PLC of the United Kingdom (LON:IHG, NYSE:IHG(ADRs)) is the world's most global hotel company and the largest by number ofrooms. InterContinental Hotels Group owns, manages, leases or franchises,through various subsidiaries, more than 3,500 hotels and 534,000 guest rooms innearly 100 countries and territories around the world. The Group owns aportfolio of well recognised and respected hotel brands includingInterContinental(R) Hotels & Resorts, Crowne Plaza(R) Hotels & Resorts, HolidayInn(R) Hotels and Resorts, Holiday Inn Express(R), Staybridge Suites(R),Candlewood Suites(R) and Hotel IndigoTM, and also manages the world's largesthotel loyalty programme, Priority Club(R) Rewards, with more than 24 millionmembers worldwide. In addition to this, InterContinental Hotels Group has acontrolling interest in Britvic, the second largest soft drinks manufacturer inthe UK. InterContinental Hotels Group offers information and online reservations for allits hotel brands at www.ichotelsgroup.com and information for the Priority ClubRewards programme at www.priorityclub.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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