Patron & Cycas Partnership

In conjunction with Westfield, Cycas and Patron developed two hotels within the Stratford shopping centre. The hotels, a 162 room Staybridge Suites and a 188 room Holiday Inn Hotel, were bought and forward funded by a Cycas / Patron Capital joint venture.

 

The project was a highly complex building of two hotels on top of an existing shopping centre, made even more challenging because of the time pressure to open before the 2012 London Olympics.

 

Cycas proved able to act proactively to facilitate the timely delivery and create cost savings during the construction process. The hotels were delivered two months before the original planned date and with less than 2% of total budget changed as result of amendments to the plans.

 

Cycas has maintained good working relations with both Westfield Construction and Westfield Centre management (references are available), before, during, and after the process of developing and building these hotels.

 

The hotels were the main HQ hotels during the Olympics and the Paralympics, for: IHG, British Swimming team, and the Paralympics Committee.

 

After the successful opening and an initial trading period the Hotels were sold in December 2012.