A Chinese firm whose specialty is in constructing modular buildings has won a contract to build a 200-room hotel at UK's Bristol Airport. As the Bristol Post reports, it is part of a £120-million expansion plan for Lulsgate and will be built close to the terminal building. The ultimate aim is to create an airport large enough and with the facilities to handle 10 million passengers every year.
Colliers International negotiated a deal for the new hotel, which will be built with £15 million of investment from CIMC Modular Building Systems of China.
Marc Finney, head of hotels at Colliers International, said: "This project has been two years in the making; we have been working closely with the commercial team at Bristol Airport to develop the concept for a new on-site hotel to be delivered by the investor, CIMC Modular Building Systems. The agreement is based on a long- term ground lease, so the speed at which the hotel can be erected will be key to Bristol Airport's development objectives as well as making this project commercially viable for the operator, which is soon to be announced."
The Bristol Post writes that the deal comes at a time when Asian investors are becoming more interested in the UK, due to the higher returns offered by hotels.