The French hotel chain Ibis have started work on a 265-bedroom hotel on Cardington Street, NW1, near Euston Station.
The site belongs to British Rail Property Board, who had to relocate their railway memorabilia shop, Collector’s Corner, to make way for the two-star hotel.
BR parking gain
Finotel, the UK company set up to develop and operate Ibis hotels, have taken a long lease and agreed to hand over the 101-vehicle basement car park for the exclusive use of BR passengers.
The project, which will cost £9.55m, follows the opening of Ibis’ hotel at Heathrow last year.
The Ibis chain are owned by the French company Sphere, who have announced their intention of opening some 40 two-star hotels in the UK over the next 10 years. The Euston Ibis is expected to come on-stream in July 1987 and Finotel have three others planned. Capital for the programme is being raised through the Business Expansion Scheme.
