Rotana announced today its entry into the United Kingdom (UK) with the launch of two new properties under its affordable hotel and serviced apartment brand, Centro, Centro New Malden and Centro Kingston. These being the first two properties to launch as part of a wider agreement to develop up to 1,500 keys over multiple sites across the greater London region, all under the Centro brand.
Set to launch in 2023, Centro New Malden includes 70 distinctly designed apartments furnished to a four-star hotel standard with fully equipped kitchens and separate living and bedroom areas. Situated right across from the New Malden Railway Station, in the London Borough of Kingston Upon Thames, guests staying at the serviced apartments will enjoy easy access to Central London in under 25 minutes.
The second property, Centro Kingston, is located along the north edge of Coombe Road in Kingston upon Thames and is in close proximity to the Kingston Town Centre, Kingston Hospital and Richmond Park with quick access to regular bus service. Opening in 2024, the property features 31 highly distinctive apartments each designed to maximise space, light and efficiency including smart technology and in-room entertainment.
Smart, convenient and stylish, the technology forward Centro-branded properties will be fully digitally driven, encompassing all touch points in the guest journey. The user-friendly platform will not only enable guests to seamlessly navigate the property, but will also integrate local restaurants, with the option to order or dine in, as well as interact with neighbouring cultural attractions and services.
Guy Hutchinson, President and CEO of Rotana, said: “This is a fantastic milestone for Rotana, and we are delighted to be partnering with CNM Estates to bring our award-winning hospitality services to the United Kingdom. London remains one of the world’s largest business hubs and a key market for us as we continue expanding our footprint globally. Launching in two vibrant locations in London, both properties will welcome guests to enjoy the diverse offerings of the city while having unique living spaces that provide both finesse and functionality. We look forward to continue building our success story, in line with our mission to deliver “Treasured Times” to our guests across the world.”
Wahid Samady, Chairman of CNM Estates, added: “We are excited to be partnering with Rotana, a brand that reflects our dedication to delivering quality and style in each and every project. We are deeply committed to transforming spaces and bringing forward high-quality developments infused with style. We firmly believe that this partnership will provide an elevated living experience that provides comfort and convenience, matched with Rotana’s unparalleled level of hospitality. With the two first projects well underway we have a strong pipeline and are continuing our search for more locations.”
The development of the Centro New Malden is set to commence in July 2023 with the support of a Development Facility provided by Fairfield Real Estate Finance. Chris Wilson, Chief Executive of Fairfield Real Estate Finance, commented, “We are delighted to be involved in financing the Centro in New Malden. This is an exciting concept which we think will be well received in the UK market. Rotana and CNM Estates have developed a clear vision for an enhanced hospitality experience for the business and leisure traveller.”
Colliers have been retained by the partners in the UK to provide structuring advice and execution on equity and debt funding on both the specific initial projects and for what is planned to become a platform with assets in excess of £1bn.
John Knowles, Head of National Capital Markets at Collier said “We are delighted to have the opportunity on this exciting new venture which brings a major new operator to the UK for the first time and creates a new level of product for this growing market sector. Serviced apartments will be an increasingly important component in the UK residential offer and having an operator like Rotana with international scale and expertise is much needed. We already have initial expressions of interest from both UK and International equity investors and debt providers and will be approaching a wider market over the next few months.”
Rotana currently operates 72 hotels in the Middle East, Africa, Eastern Europe and Turkey, serving more than six million guests per year, including an impressive 10,012 keys across 36 hotels in the UAE alone. With a robust developing pipeline, the hospitality group is on track to expedite landmark developments and hotel signings in the region and beyond, in line with its tenacious expansion plan.