Hotel operator aims to add 47 properties with new buildings or converting existing ones
Premier Inn has unveiled plans to double its portfolio of hotels within the M25, with a number of new-build developments on the cards.
The Whitbread-owner operator, which already has 48 hotels within the area, said it is looking to add a further 47, either by building new properties or converting existing hotels or offices.
Derek Griffin, head of acquisitions for Premier Inn Greater London, said the company expects to attract the attention of developers given its liquidity and the scope for further expansion.
“Our strong performance as a business and our Whitbread-backed covenant means that we’re an attractive partner for developers and investors and we will look at any opportunity if it can help us improve our portfolio,” he said.
The company has appointed property consultant King Sturge to hunt for suitable properties and sites, alongside existing retained agent Cropper & Co.
Premier Inn was last month forced to drop adverts, targeted at developers and landowners, which claimed it was the largest hotel operator in London, after a complaint from rival Travelodge.
Travelodge successfully challenged Premier Inn’s claim that that it was the largest hotel operator in the capital with 5,500 bedrooms as the latter had been counting the number of rooms within the M25, rather than just in the City of London and the 32 London boroughs.