THEFIRST Holiday Inn Express hotel in London will open in autumn 2000 on the south side of Wandsworth Bridge.
The site has been acquired by Oriel Leisure, which has signed an agreement with Bass Hotels and Resorts – the owner of the budget brand – to develop and operate at least 20 Holiday Inn Express hotels in the UK over the next three years.
The ú7.5m hotel will be located on Smugglers Way. It will form part of a development called St George’s Riverside West, which will include residential apartments, offices, a health and fitness club, restaurant and retail premises.
The site is the third to be purchased by Oriel Leisure as part of its agreement with Bass Hotels, but another six projects are currently in the hands of solicitors.
The company refused to disclose where these sites are at this stage, but confirmed that none are in London.
Chief executive Michael Brooker said it would consider acquiring more sites in the capital if they were suitable.
Oriel opened its first Holiday Inn Express in Peterborough in November and will open a second in Canterbury in the spring.
The Holiday Inn Express in London will have 148 rooms, bar, lounge and meeting rooms. The rate is expected to be slightly more than the current rate of ú46.50 for weekdays and ú40 on weekends for properties outside the capital. From March 1, rates are increasing to ú49.50 for weekdays and to ú45 weekends.
Rival budget hotel groups Travel Inn and Travelodge have both set their London rates higher than those for properties outside the city.