Business & Finance

Slough Urban Renewal (SUR) and Cycas Hospitality to Develop Dual-Branded Moxy and Residence Inn by Marriott in England

LONDON, U.K. July 18, 2017 - 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 the former Central Library site, a landmark location 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.

The hotel development will be operated by Cycas Hospitality, the specialist extended-stay hotel management company and will include a 144-room affordable lifestyle 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.”

Andy Howell, General Manager of Slough Urban Renewal said: “This is a fantastic achievement for the partnership and commitment of two internationally acclaimed brands such as Marriott International and Cycas which will enable a landmark hotel development to come forward as a key component in our long-term plans for Slough.”

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.

SUR is an exemplar public / private venture, jointly owned by Slough Borough Council and Morgan Sindall Investments and is currently delivering £900m of residential, leisure, education and commercial development projects across the Borough with 11 projects under construction.

About Cycas Hospitality

Cycas Hospitality is a hotel management company specialising in extended-stay hotels in the UK and Europe. It combines real world, first-hand experience of hotel management with expertise in real estate investment and development. Cycas Hospitality manages Staybridge Suites hotels in, Liverpool, Newcastle, London - Vauxhall, London - Stratford City as well as the Holiday Inn in Stratford City London. Cycas Hospitality also manages Starwood Capital Group’s four extended-stay apart-hotels in London which include Marriott’s first extended-stay properties in the capital; Residence Inn London – London Bridge and Residence Inn London – Kensington. The company also manages two further properties in Bermondsey and Tower Bridge making Cycas the second largest operator of serviced apartment/apart-hotels in London. Two further dual branded projects, comprising four hotels, are under construction. These include a Crowne Plaza/Staybridge Suites in Manchester and a Moxy/Residence Inn in Amsterdam. At Heathrow Cycas also manages the Hyatt Place London Heathrow Airport. Several other projects are currently under development. www.cycashospitality.com

About Residence Inn by Marriott

Residence Inn by Marriott is the global leader in the extended-stay lodging segment, with more than 700 properties located in 10 countries and territories. Designed for long stays, the brand offers spacious suites with separate living, working, and sleeping zones. Fully functional kitchens; grocery delivery service; 24-hour markets and complimentary breakfasts help guests maximize their time and thrive while they travel. The RI MixÔ evening events afford guests the opportunity to socialize and connect with the local community. Each Residence Inn offers free Wi-Fi in both public and guests spaces to ensure continuous connectivity while on the road. As a member of the Marriott International portfolio, Residence Inn is proud to participate in the industry’s award-winning loyalty program, Marriott Rewards® which includes The Ritz-Carlton Rewards®. Members can now link accounts with Starwood Preferred Guest® at members.marriott.com for instant elite status matching and unlimited points transfer. For more information or reservations, visit residenceinn.marriott.com. For travel tips, the latest on the brand or to connect with other travelers, “like” Residence Inn on Facebook and follow @ResidenceInn on Twitter and Instagram.

About Moxy Hotels

Moxy Hotels is Marriott International's new millennial-focused brand that debuted in September 2014 with the opening of the Moxy Milan. A boutique-hotel concept for the next-Gen traveler, Moxy is a fresh and innovative brand combining stylish design and approachable service at an affordable price point. With tech-enabled rooms, vibrant lobby spaces and warm, modern service, Moxy aims to surprise travelers with a thoughtful, spirited and fun guest experience. Moxy Hotels is proud to participate in the industry’s award-winning loyalty program, Marriott Rewards® which includes The Ritz-Carlton Rewards®. Members can now link accounts with Starwood Preferred Guest® at members.marriott.com for instant elite status matching and unlimited points transfer. To learn more about Moxy Hotels, visit www.MoxyHotels.com. • Follow Moxy on Instagram • Watch Moxy on YouTube • Engage #AtTheMoxy • Watch the Moxy Manifesto video here

About Marriott International

Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 6,100 properties in 30 leading hotel brands spanning 124 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company also operates award-winning loyalty programs: Marriott Rewards®, which includes The Ritz-Carlton Rewards®, and Starwood Preferred Guest®. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.

About Slough Urban Renewal

Slough Urban Renewal is a joint venture between Slough Borough Council and Morgan Sindall Investments Limited. Its purpose is to deliver ambitious objectives to transform the borough of Slough for all. For more information visit www.slough-thinkingforward.co.uk

About Morgan Sindall Investments

Morgan Sindall Investments Limited (MSIL) provides project development and funding solutions through a one-stop service, allowing our private and public sector partners to implement sustainable change in order to improve long-term prospects and well-being of local communities. It is part of Morgan Sindall Group plc, a leading UK construction and regeneration group with revenue of c£2.4 billion and which operates through six divisions of Construction & Infrastructure, Fit Out, Property Services, Partnership Housing, Urban Regeneration and Investments.

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