Premier Inn signs 11 new sites

2 September 2011 13:26:43 GMT

Premier Inn, has bolstered its UK expansion strategy by adding 1,195 new bedrooms to its secured development pipeline this summer.

The deals represent Premier Inn’s most active development summer on record (based on confirmed June to August deals/exchanges) and include more than 400,000 sq ft of commercial space.

The new bedrooms will be spread across 11 UK sites from Harrogate to Exeter.

Premier Inn is targeting expansion to 65,000 rooms within the next five years. It raised its growth target by 50% in its April 2011 financial reporting to the City and is pursuing an aggressive property strategy to provide more Premier Inns in more locations across the UK.

The 11 development deals achieved this summer are:

-       Bath: 108-bedroom Premier Inn on James Street West
-       Barry, South Wales: 80-bedroom Premier Inn and Brewers Fayre restaurant at Innovation Quarter, Barry Waterfront
-       Canterbury: 120-bedroom Premier Inn at New Dover Road
-       Ipswich: 80-bedroom Premier Inn at Key Street
-       St Albans: 120-bedroom Premier Inn at St Peter’s Street
-       Harrogate: 107-bedroom Premier Inn as part of Harrogate International Centre
-       Hendon (Hyde House): 99-bedroom Premier Inn
-       Exeter (Cathedral Quarter): 120-bedroom Premier Inn
-       Leeds (Hepworth House): 131-bedroom Premier Inn
-       Leeds (Whitehall Road): 130-bedroom Premier Inn
-       Woking: 100-bedroom Premier Inn at Church Street

The development sites include a combination of developer turn-key, office-to-leisure conversion, and new build schemes.

John Bates, Head of Acquisitions, UK & Ireland for Whitbread Hotels and Restaurants, said: “These are 11 excellent deals that will significantly drive our expansion plans and ensure that we have a top quality and re-stocked development pipeline in place. We said in the spring that we were turning up the burners on growth. Achieving 11 outstanding deals and more than 1,195 new secured bedrooms this summer is stellar progress in anybody’s book. It’s testament to the quality of our team, the variety and flexibility of the deals we can do, and Whitbread’s attractiveness as a development partner.”

Premier Inn opened its 600th hotel in Stratford-upon-Avon in April 2011 and now offers more than 44,000 bedrooms at locations across the UK.

John Bates added: “Customer demand for the quality and value that Premier Inn provides remains extremely strong so we are pressing on with our investment and expansion plans with confidence. We are seeing good opportunities in the market and a healthy appetite for the covenant and investment security Whitbread brings to any deal. We are gunning for growth and there is much more to come.”