Global hospitality provider expands portfolio utilizing prefab modular construction.
RESTON, VA. – Fortifying its position as a pioneer in the extended-stay hospitality space, BridgeStreet Global Hospitality has entered a 20-year management agreement for the first Stow-Away Project, a Studio-style apart-hotel brand. Located on the bustling Lower Marsh street in Waterloo, London, the micro-studios will utilize prefabricated modular construction to provide compact living spaces that deliver both quality and value. The project perfectly matches the eclectic energy of Lower Marsh with its award-winning coffee shops, independent booksellers, art galleries, and outdoor market.
"BridgeStreet is excited to partner with Stow-Away as they develop their unique offering and brand, and we look forward to working with them on multiple sites over the coming years," said Sean Worker, chief executive officer of BridgeStreet Global Hospitality. "As a thought leader within our own industry, together we have a shared sensibility in emerging hospitality trends. The location of this first project marries perfectly with BridgeStreet's drive to provide guests with localized experiences at affordable price points. Stow-Away's willingness to further extend the prefabricated modular construction trend to hospitality is exhilarating."
Charlie Fulford of Stow-Away adds, "We are pleased to have selected a very well-established brand that brings decades of substantive knowledge to our brand and offering. As a renowned manager within the wider extended-stay space with global scale but also local, regional expertise. Vedrana Riley of Ciel Capital (Stow-Away's co-founders and investors) adds: "We are fully confident our brand is in good hands with BridgeStreet. Their ability to generate unique demand through their robust distribution and sales platform was another important factor in our decision."
Doone Silver Architects have been commissioned to undertake the design of the project with a ground floor boasting both a cafe and reception area that will complement Lower Marsh's independent and collaborative community. Lower Marsh Stow-Away, under BridgeStreet Global Hospitality's management, is expected to open in Q4 of 2017. Additional collaborative projects between BridgeStreet and Stow-Away could generate between 200-400 units in London by 2022.
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