Cycas signs deal for dual-branded project in Slough

George Sell By George Sell
1 week ago | Updated 1 week ago

UK: Cycas Hospitality and Slough Urban Renewal (SUR) has secured a deal to develop two new Marriott International hotels - Moxy and Residence Inn by Marriott.

The hotels will be located on Slough's former Central Library site on the A4 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, working with SUR to bring forward the development of the site. SUR is a public/private venture, jointly owned by Slough Borough Council and Morgan Sindall Investments and is delivering £900 million of residential, leisure, education and commercial development projects across the Borough with 11 projects under construction.
 
The hotel development will be operated by Cycas Hospitality and will include a 144-room Moxy Hotel and a 92-room extended-stay Residence Inn, both of which will be operated under a single lease, in the same building.
 
Roger Parkin, interim chief executive at Slough Borough Council said: "Our innovative and shrewd investment in this partnership project is a win, win for the town. The hotels will not only boost the town centre night time economy and provide jobs but also bring long-term secure income for the council that we can invest in the frontline services we know our residents need and want. Along with our massive redevelopment scheme for the former Thames Valley University site and the opening of The Curve cultural centre last year, this project is further proof of our commitment to regenerating the heart of Slough and being at the forefront of building for the future."
  
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."
 
 
Eduard Elias, Cycas Hospitality managing partner said: "Slough is transforming itself into a leading commercial success story and it is an exemplary regeneration scheme for the UK. This will be our second dual branded partnership with Marriott International (our first is in Amsterdam) and it is a perfect concept for Slough.  Above all we look forward to playing a key role in the business life of Slough and contributing to the success of this project."

Cycas Hospitality has five more hotel openings planned in the coming months, including properties in London and Manchester, as well as future developments in Amsterdam and The Hague.

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