UK: PGIM Real Estate and Madison Cairn have opened a newly developed extended stay hotel in Brighton as a joint venture.
Staybridge Suites Brighton, which was originally a stalled construction project, was reconfigured, rebranded, and completed by the JV. It is located on Fleet Street, close to Brighton’s mainline train station. The hotel comprises both studio and suite offerings, that have double or king beds, a fully equipped kitchen, a seating area and Wi-Fi. The Den can be used for business meetings or leisure. There is also a fitness room, and a 24-hour laundry room. Staybridge Suites Brighton also offers breakfast and a fully stocked pantry, open 24 hours.
Aneil Handa, director of Madison Cairn, said: “We are thrilled to open our first hotel with our joint venture partners, PGIM Real Estate. It has been a privilege working with one of the world’s largest real estate managers, in a partnership where our skills complement each other’s perfectly and position us well for our next chapter of growth in the sector. This is a key milestone for us, and we look forward to exploring more opportunities across the UK.”
Charles Crowe, managing director at PGIM Real Estate, said: “We’re delighted with the opening of this first project with Madison Cairn, one of the most experienced operators in the sector, and look forward to progressing our venture.”
