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Brussels, December 4, 2001... A new, 350-room four-star Radisson SAS
Hotel is to be built at Stansted Airport, located about 34 miles northeast
of London. The deal was signed yesterday with Rezidor SAS Hospitality,
part of the SAS Airline group, and BAA Lynton, the commercial property
development arm of BAA plc. Rezidor SAS is taking a 99-year ground
lease on the site and is investing approximately 57 million USD (£40
million). The property, linked directly to the newly extended terminal
building by a pedestrian walkway, will open in 2003.
The first phase of the project will include 350 rooms, with an additional
150 rooms planned in a second phase. The hotel will feature two restaurants,
bars, a leisure center with a swimming pool and gym, and comprehensive
conference and banqueting facilities.
He adds: "With the successful performance of our award-winning Manchester property, we are now very excited to announce the addition of this new hotel at Stansted airport. Considering Stansted is the fastest-growing airport in Europe, serving a large and increasing number of business travellers, the addition of this full-service, first-class hotel will fill a critical gap in this key location." John O'Halloran, Managing Director of BAA Lynton, the commercial property development arm of BAA plc, welcomed the development deal with Rezidor SAS, parent company of Radisson SAS Hotels & Resorts. "This deal demonstrates continued confidence in Stansted as a growing airport location," he said. "This hotel opportunity attracted an extremely high level of interest from major international hotel companies and we were most impressed with the Rezidor SAS proposition. Radisson SAS is an exceptional brand and the new hotel will significantly enhance the value of Stansted for both leisure and business travellers." In addition to its Europe-wide emphasis on airport hotels, Radisson SAS has a strong commitment to the UK market in general. With established hotels in London, Manchester and Stirlingshire, and new properties under development in Glasgow, Leeds and Liverpool, the company has earmarked the UK as a major development opportunity. The Stansted hotel, which is to be built on a five-acre site, is being designed by Aukett Europe to complement the award-winning Sir Norman Foster-designed terminal building. About Stansted Airport
BAA Lynton established an Airport Hotels Partnership in March 2000. It had an initial investment value of approx. 285 million USD (£200 million) and comprised eight airport hotels. Investors in the fund include Scottish Widows, the Coal Schemes, and the Shell Pension Fund. BAA Lynton is manager to the fund. Rezidor SAS Hospitality (previously SAS International Hotels), a fully owned subsidiary of SAS Scandinavian Airlines, currently includes 111 Radisson SAS hotels & resorts in operation and 34 under development in 38 countries and seven Malmaison hotels, all located in the UK. |
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Emily Easter KWE Associates 212/255-7403 [email protected] http://www.rezidorsas.com |