November 20, 2000 -- HVS International -- City Inn, the Edinburgh-based budget hotel operator is planning to invest £100 million with the aim of expanding the group, comprising between 1,500 and 1,800 bedrooms by 2004.
City Inn was formed in 1995 as a joint venture with the Royal Bank of Scotland. According to the group's Managing Director, David Orr, four years were spent developing the right concept for new-build hotels, located in city centres and which offer greater value than expected for the price paid. The facilities include a contemporary-style restaurant and bar, and 24-hour room-service.
The group has currently invested £16 million in two hotels. The first opened in Bristol last May, comprising 167 bedrooms, and was followed by the 164-bedroom hotel in Glasgow.
A third hotel with 232 bedrooms is under construction in Birmingham, at a cost of £10 million. Meanwhile, a 462-bedroom City Inn with a buduget of £20 million is planned for Westminister in London.
Further openings are in the pipeline for Leeds and Manchester, and other major UK cities.
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This release is courtesy of HVS International, a global full-service hospitality consulting company. HVS International's numerous services including market studies & valuations, development consulting, litigation support, asset management,and more. Investment advisory services are available in the UK, Africa, Europe and the Middle East.
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