Temple Bright advises Marriott International on dual brand hotel deal
14/08/2017
Law firm Temple Bright has advised Marriott International on a deal to develop two new Marriott hotels, under the group’s Moxy and Residence Inn brands, in central Slough. The hotels will be located on Slough’s former Central Library site between the town centre and the station where Crossrail trains will operate from 2019.
Slough Borough Council acquired the site in 2015 and will finance and own the hotels as a long term investment.
The hotel development will be operated by Cycas Hospitality, the specialist extended-stay hotel management company, and will include a 144-room Moxy Hotel and a 92-room extended-stay Residence Inn. Both will be operated under a single lease in the same building.
Paul Thomas, director of international hotel development at Marriott International, said: “We are excited to see this dual brand project become a reality in what is a high-profile location. It not only represents a landmark first deal with Slough Borough Council, but also the third deal between Cycas and Residence Inn by Marriott in the UK and we look forward to continuing to strengthen these partnerships both here and across Europe.”
The Moxy brand, aimed primarily at millennials, is described by Marriott as “a boutique hotel with the social heart of a hostel”. The Slough development is the eighth planned Moxy site in the UK. The Residence is a long-stay brand aimed at both business and leisure customers. Each room has a fully-equipped kitchen and living area. Marriott opened the first Residence Inn in 2011 in Edinburgh and is due to open the second site in 2017 in London.
Alyona Antonenko, the Commercial partner at Temple Bright who led the transaction, said: “It was a privilege to advise Marriott on this exciting development which places two popular Marriott brands in a key South East location. The deal is a great commercial opportunity for all parties and we look forward to seeing a positive impact on the ground.”
Temple Bright co-founder Tim Summers said: “We are delighted to have had the opportunity to work with Marriott on this important transaction. Given the impending realisation of the Crossrail project, the two new hotels are ideally located and the deal should greatly benefit the Moxy and Residence Inn brands.”
Temple Bright was established in 2010. The London office now has 30 partners in a broad range of practice areas, with a growing practice in the hotels sector led by Commercial partner Alyona Antonenko and Real Estate partner David Sanson.
This article appeared on the Bdaily website on 14 August 2017.
