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Jones Lang LaSalle’s Project and Development Services (P&DS) Hotels team has recently completed several refurbishments on behalf of Premier Inn. The first project was the conversion of a 90-bed property located in Kensington, London (formally a Comfort Inn).
In addition, the team has also recently completed the refurbishment of 21 former Express by Holiday Inn sites to convert and rebrand into new Premier Inn hotels. The 21-site acquisition deal between Mitchells & Butlers and Premier Inn included three sites with planning permission for extensions adding an additional 106 bedrooms to the sites.
Commenting on the project, Toby Wait, director of Jones Lang LaSalle’s P&DS Hotels team said: “This project has seen our team deliver a total of 1,245 new Premier Inn bedrooms. All sites were rebranded immediately after exchange in September 2008 and refurbishment and extension works were completed in a 28-week period. All sites were delivered within programme and budget despite an increase in scope in the final stages.”
For both of these projects Jones Lang LaSalle’s P&DS Hotels team were involved in the full lifecycle from due diligence and acquisition through to managing the delivery of the projects to handover and provided project Management, Cost Management and Building Surveying services.
Richard Aldread, Whitbread Project Manager concluded: “Jones Lang LaSalle were Whitbread's Project Managers and Cost Managers for the £90m EBITA asset swap with M&B for the successful transfer and conversion of 21 Express by Holiday Inn's. Their exceptional industry leading performance ensured the successful completion of due diligence and conversion to Premier Inn. Delivering the Project against the most challenging of timescales and cost constraints saw 1,245 additional rooms added to the Premier Inn estate.”
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specialising in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2008 global revenue of $2.7 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.4 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $41 billion of assets under management.
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