IHG set to operate 4,000 hotel rooms at £3.2b London Paramount theme park
InterContinental Hotels Group (IHG) has reached a heads of terms agreement to operate up to 4,000 guest rooms with the developer of London Paramount theme park in north Kent.
The massive £3.2b development on the Swanscombe Peninsula is expected to open in 2022.
Developed in phases, the hotels will open under a number of IHG's brands, from its limited service, midscale and upscale brand stable.
The latest plans for the resort, of which the heads of terms form a part, will go on public display in the autumn, before a development consent order is submitted to the secretary of state.
A management agreement is due to be signed during a later stage in the resort development process, prior to the resort and hotels' opening in 2022.
Humphrey Percy, CEO of London Resort Company Holdings, the developer of London Paramount, said: "This head of terms agreement with IHG is a key piece in our jigsaw puzzle of infrastructure operations which sets an important standard for the resort. This arrangement is a further example of our commitment to creating a truly global destination and entertainment resort in, and for, the UK."
IHG operates nearly 5,200 hotels and 767,000 rooms around the world under brands including Holiday Inn, Holiday Inn Express, Crowne Plaza, and Staybridge Suites.
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