6 Nov 2013 07:00
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Release date: 6 November 2013
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CLS Holdings plc
("CLS", the "Company" or the "Group")
Staybridge Suites Hotel at Spring Mews, London SE11
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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.
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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.
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Sten Mortstedt, Executive Chairman of CLS Holdings plc, commented:
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"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:
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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
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Liberum Capital Limited +44 (0)20 3100 2222
Tom Fyson
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Charles Stanley Securities +44 (0)20 7149 6000
Mark Taylor
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Kinmont Limited +44 (0)20 7087 9100
Jonathan Gray
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Smithfield Consultants (Financial PR) +44 (0)20 7903 0669
Alex Simmons
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