Last checked at 6 Nov 2013 07:00
Release date: 6 November 2013
CLS Holdings plc
("CLS", the "Company" or the "Group")
Staybridge Suites Hotel at Spring Mews, London SE11
CLS Holdings plc is pleased to announce that it has signed a franchise agreement with InterContinental Hotels Group for a 93 bedroom Staybridge Suites Hotel at its mixed-use development at Spring Mews, Vauxhall, London SE11. This will be the most central Staybridge Suites hotel in London, following the successful opening of Stratford City last year.
The franchise agreement, which is for a 15 year term, forms an important part of the £80 million mixed-use development, which will also include 400 high quality student rooms and is scheduled for completion in September 2014.
Sten Mortstedt, Executive Chairman of CLS Holdings plc, commented:
"InterContinental Hotels Group is one of the top hotel companies in the world and its Staybridge Suites brand perfectly meets our aspirations for a hotel in this area. We very much look forward to working together with IHG."
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For further information, please contact:
CLS Holdings plc +44 (0)20 7582 7766
www.clsholdings.com
Sten Mortstedt, Executive Chairman
Henry Klotz, Executive Vice Chairman
Richard Tice, Chief Executive Officer
Liberum Capital Limited +44 (0)20 3100 2222
Tom Fyson
Charles Stanley Securities +44 (0)20 7149 6000
Mark Taylor
Kinmont Limited +44 (0)20 7087 9100
Jonathan Gray
Smithfield Consultants (Financial PR) +44 (0)20 7903 0669
Alex Simmons