UK: BridgeStreet Global Hospitality has entered a 20-year management agreement for the first Stow-Away Project aparthotel in London’s Waterloo.
Located on Lower Marsh, close to Waterloo station, the development will feature micro-studios utilising prefabricated modular construction.
BridgeStreet CEO Sean Worker said: “BridgeStreet is excited to partner with Stow-Away as they develop their unique offering and brand, and we look forward to working with them on multiple sites over the coming years. As a thought leader within our own industry, together we have a shared sensibility in emerging hospitality trends. The location of this first project marries perfectly with BridgeStreet’s drive to provide guests with localised experiences at affordable price points. Stow-Away’s willingness to further extend the prefabricated modular construction trend to hospitality is exhilarating.”
Charlie Fulford of Stow-Away said: “We are pleased to have selected a very well-established brand that brings decades of substantive knowledge to our brand and offering. As a renowned manager within the wider extended-stay space with global scale, BridgeStreet also brings local, regional expertise.”
Vedrana Riley of Ciel Capital, Stow-Away’s co-founders and investors, added: “We are fully confident our brand is in good hands with BridgeStreet. Their ability to generate unique demand through their robust distribution and sales platform was another important factor in our decision.”
Doone Silver Architects has been commissioned to undertake the design of the project, with a ground floor featuring a café and reception area. Lower Marsh Stow-Away is expected to open in Q4 of 2017. Additional collaborative projects between BridgeStreet and Stow-Away could generate between 200 and 400 units in London by 2022.