Negotiations between some of the hotel sector’s biggest names and the developer of a £500m exhibition centre in east London could result in the addition of another 1,150 hotel rooms to the capital’s stock.
ExCeL, which is planning to build the centre on 40.4ha (100 acres) of the Royal Victoria Dock site, has announced that it is in negotiations with Holiday Inn, Marriott Hotels, Hilton Hotels, and French operator Accor.
The first £250m phase of the scheme also comprises 90,000 sq m (968,783 sq ft) of ‘event space’, 400 apartments, bars, restaurants, and shops.
Iain Shearer, chief executive of ExCeL, confirmed that his company is now talking to local authority Newham council about another 350 hotel bedrooms on the site. “The interest from the travel, hotel and apartment operators, as well as exhibitors has been phenomenal,” he said.
Shearer is confident that the success of the first phase will spur development of phase two, which already has outline consent. The second phase will bring another 55,740 sq m (600,000 sq ft) of space forward for exhibition and retail use and is expected to be up and running by the end of 2003.
Reed Exhibition Companies, Miller Freeman Worldwide, ExpoVenue and Best Golden are the main shareholders in ExCeL.
The first phase is due to open in November 2000, with 120 events scheduled for the first year.
EGi News 20/01/00
