Located on a key route for access to the Olympic Park, the two hotels will add an additional 350 rooms to the expanding accommodation at Westfield Stratford City.
Following an agreement between the City and ES Properties, the hotels will be owned by ES Properties – which is a joint venture between Cycas Capital and Patron capital – and operated in partnership under franchise with the Intercontinental Hotels Group (IHG).
The two hotels, which will open ahead of the Games, will be built by Westfield and will be situated at the centre of the Westfield Stratford City shopping centre development, which will include 1.9m sq ft of retail and leisure space, 1.1m sq ft of offices, as well as homes and community facilities.
They also sit adjacent to the Stratford regional station, and directly by one of the primary routes for access to the Olympic Park.
Josh Wyatt, Director of Hospitality at Patron Capital said: “The project represents a prime opportunity to own and operate a large scale hotel scheme in London. The development is in an excellent location with superb transportation links just 100m from the hotels.”
Holiday Inn London-Stratford City will be a four-star hotel with 188 rooms.
The Holiday Inn brand, which is the official hotel provider to the 2012 Olympics, said this hotel will “set a new benchmark for the future”.
The group is currently preparing to complete what it calls the biggest re-launch in the hospitality industry, with a £650m investment across more than 3,300 hotels and 430,000 Holiday Inn rooms worldwide.
The new Staybridge Suites London-Stratford City hotel will include 162 suites, and will be the third Staybridge to open in the UK.
Staybridge follows a concept which is mid-way between conventional hotels and serviced apartments. It is marketed as providing a residential-style stay and its tiered pricing structure provides discounted rates for longer stays.
John Wagner, Director at Cycas Hotel Partners, said:“The opportunity to be open and a part of the Olympics and the Olympic legacy will give these hotels a head start in introducing a new standard and in the case of Staybridge Suites, a new concept, to the growing east London neighborhood.”