Premier Inn owner Whitbread has completed deals that will add 604 bedrooms to its property development pipeline for March 2015.
The new sites will expand the hotel chain’s pipeline of 13,500 bedrooms to add to more than 59,000 bedrooms already open and trading.
Sites that have recently exchanged include a new leasehold 60-bed hotel in Penrith, Cumbria; a 128-bedroom Holiday Inn conversion going concern acquisition in Banbury, Oxfordshire; a 104-bedroom unit to be built on the former freehold Carlton Hotel site acquired as going concern; and a new leasehold 312-bedroom hotel in Wembley Park, HA9.
Jo Moon, director of acquisitions for Premier Inn, said: “With two going-concern acquisitions within this series, we are showing the breadth and versatility of what we can do. We want to keep on re-stocking our development pipeline to support new hotel openings next year and beyond and we have our foot hard to the floor to do more acquisition deals during 2015.”
Premier Inn is targeting 75,000 bedrooms in the UK and Ireland by 2018.
In November 2014, it opened its first ‘hub by Premier Inn’ format in Covent Garden, London and currently has 13 sites in its committed development pipeline for this format, totalling about 2,500 bedrooms.
