Date: September 2018
Location: Aldgate, London City, UK
Name: Hyatt Place London City/East – opening 2020
No. of Keys: 280
Seller: Black Lion House was an 1980s office building, acquired by Resolution Property in 2015, handled by Michael Morris of Collas Crill for £32.5m. Colliers acted for Resolution.
Buyer: Hyatt Hotels Corporation announced today that they have entered into a franchise agreement with Resolution Property, which has teamed up with specialist real estate firm Berkeley Capital Group, to develop a Hyatt Place hotel at Black Lion House on Whitechapel Road in Aldgate.
Hyatt Place London City/East will be managed by Cycas Hospitality and will mark the fourth collaboration with Cycas Hospitality on select service Hyatt hotels in Europe.
This Hyatt Place London will be the third Hyatt Place hotel in Greater London, joining Hyatt Place London Heathrow Airport and Hyatt Place West London/Hayes.
It will feature a ninth-floor hotel lounge and terrace providing scenic views across London, a flexible meeting room concept, further lobby area, inner courtyard, gym, and a grab-and-go food market.
“Set to be the first city centre Hyatt Place hotel in London, Hyatt Place London City/East will mark an important milestone for the brand in the UK,” said Nuno Galvao-Pinto, Hyatt’s regional vice president acquisitions and development Europe.
“We are delighted to have this opportunity to collaborate with Cycas Hospitality, Resolution Property and Berkeley Capital Group to build on our commitment to expanding the Hyatt Place brand footprint.
“Securing planning is a significant achievement, and it is fantastic that we can now move forward with the development of Black Lion House into a Hyatt Place hotel, supported by our partner Berkeley Capital Group,” commented Head of UK Investment Oliver Jackson, Resolution Property.
“Bringing the Hyatt Place brand into central London perfectly demonstrates Resolution’s approach as a pioneering developer focused on creating new and exciting hotel destinations in collaboration with world-leading brands, such as Hyatt Place, to meet the needs of emerging and future demands.”
“We are pleased to be teaming up with Resolution Property and Hyatt to develop this exciting central London site,” said Lissa Engle, founder and director Berkeley Capital Group. “This development underscores our keen interest to seek out and collaborate with best-in-class operators, owners and leading hotel brands to create properties that deliver optimum value.
“We are excited to be expanding our work with Hyatt by managing Hyatt Place London City/East; our fourth collaboration with Hyatt,” said Eduard Elias, co-founder of Cycas Hospitality.
“Our deep understanding of the Hyatt Place brand ensures that we can consistently exceed the levels of care Hyatt Place guests have come to know and expect, and we look forward to further growing our collaboration with Hyatt across the UK and Europe.”
Hyatt Place London City/East will be the seventh Hyatt-branded hotel in the UK, joining Hyatt Regency London The Churchill, Andaz London Liverpool Street, Hyatt Place West London/Hayes, Hyatt Place London Heathrow Airport, Hyatt Regency Birmingham, and the Great Scotland Yard Hotel London, which is expected to open early 2019.
THPT Comment: No holding back Hyatt and Cycas in recent months. Berkeley have a long history in hotel development. Resolution were involved in funding for Soho House Berlin, as well as many commercial developments throughout Europe.
First Seen: Hyatt website