Premier Inn Posts New Planning Permissions Record
Consents secured on eight new hotel sites and 1,000 bedrooms within a month
Premier Inn, the UK’s largest hotel chain, has delivered another growth record, this time achieving planning consents for eight new hotel sites within a four week period.
The sites – which will all now go forward into construction – will deliver a total of approximately 1,000 new bedrooms to Premier Inn’s secured development pipeline and take the company further towards its growth target of 65,000 UK bedrooms by 2016.
The sites include a combination of freehold and leasehold developments. They are all expected to be open and trading before the end of the financial year 2014/15.
The planning consents include new hotels at:
· Terminus Road, Eastbourne: 65-bedroom leasehold hotel (to open financial year 2013/14)
· Southwater Square, Telford: 85-bedroom leasehold hotel (to open financial year 2013/14)
· Hyde House, Hendon (NW London): 99-bedroom leasehold hotel (to open financial year 2013/14)
· Westmoreland Road, Bromley (SE London): 130-bedroom leasehold (to open financial year 2014/15)
· Southernhay, Exeter: 120-bedroom leasehold hotel (to open financial year 2013/14)
· 20 St Mary at Hill, London, EC3: 184-bedroom leasehold hotel (to open financial year 2013/14)
· Goodman's Fields, Aldgate, London, E1: 250-bedroom leasehold hotel (to open financial year 2014/15) as part of a large mixed use development
· Street Road, Glastonbury: 60-bedroom freehold Premier Inn with Brewers Fayre restaurant (to open financial year 2013/14)
John Bates, Head of Acquisitions – UK and Ireland for Premier Inn, said: “We’re achieving great growth because of the strength of the Premier Inn product and the quality of our property proposition. Achieving eight permissions and 993 new bedrooms within a four week period is sensational. It shows that we are picking the right sites, bringing forward the right schemes and offering the right financial security for our development partners. That’s a big issue in today’s market and several of these sites were secured from or ahead of our nearest rivals because of the solidity of the Whitbread-backed covenant and the calibre of our investment package.”
Premier Inn currently has more than 47,000 bedrooms across the UK and over 10,000 bedrooms in its secured development pipeline. Whitbread, Premier Inn’s parent company, announced in its latest Trading Update to the City (28 February 2012) that it is creating 10,000 new jobs in the UK over the next three years as a result of the expansion of the Costa and Premier Inn brands.
The eight planning permissions were secured during a four week period across March/April 2012.