CBRE Hotels Represents CLS Holdings in Selecting IHG for Second London Staybridge Suites Hotel at Spring Mews Vauxhall

London - 6 November 2013 - InterContinental Hotels Group (IHG®), one of the world’s largest hotel companies, is gaining an increased foothold in the UK’s extended stay hotel market with the signing of its second property in the capital - Staybridge Suites London Vauxhall. The hotel is due to open early in 2015.

Operating under a franchise agreement with new owner Spring Mews Ltd; a subsidiary of CLS Holdings plc, the 93 suite new build hotel will be managed by Cycas Hospitality, extended stay hotel specialists, who also manage Staybridge Suites London Stratford City and Staybridge Suites Liverpool. CBRE Hotels EMEA were exclusively appointed to handle the operator selection process on behalf of CLS Holdings plc.

Part of the Spring Mews development project, the hotel will be situated on Albert Embankment, one of London’s key regeneration areas. The hotel has excellent transport links with major rail stations: Vauxhall Station, Waterloo Station and Victoria Station are all located within a two mile radius.

Robert Shepherd, IHG Chief Development Officer, Europe said: “We’re seeing increasing demand for extended stay properties in a market driven by corporate business. Staybridge Suites is a distinctive part of our growth story in Europe and we’re delighted to be working with our new owner partner Spring Mews on this project.”

Sten Mortstedt, Executive Chairman of CLS Holdings plc commented: “IHG is one of the top hotel companies in the world and its Staybridge Suites brand perfectly meets our aspirations for a hotel in this area. We very much look forward to working together with IHG.”

“Extended stay hotels are beginning to make their mark in the UK and the Staybridge Suites concept from IHG is proving very popular,” reports John Wagner, Director of Cycas Hospitality.   The homely Staybridge Suites experience appeals to both public sector and corporate business travellers working on projects and longer-term assignments.”

Staybridge Suites London Vauxhall will be the fourth Staybridge Suites property in the UK alongside Liverpool, Newcastle and London Stratford which opened in 2008, 2009 and 2012 respectively. Staybridge Suites Birmingham opens later this year.