With its strong track record of delivering successful investment and development projects, Prydis and Intercontinental Hotels Group (IHG®) have announced their franchise deal for the boutique hotel chain – Hotel Indigo® – within the former House of Fraser building overlooking the spectacular Exeter Cathedral.
The deal emphasises the robustness of the hotel market. Capitalising on the staycation market trend post-Covid and the positive growth potential for the South West region.
Joe Priday, Managing Director of Prydis, commented: “Exeter has the perfect mix of heritage and innovation. We want to raise the profile and set the standard for the region. Hotel Indigo is without a doubt the perfect brand for this iconic building. We are looking beyond the pandemic and can see a future of conversational commerce, “shoppertainment” and customer experience as king. A Hotel Indigo flagship development in the heart of the city is the crown to help us achieve our vision. We welcome the might of IHG again coming to the City but this time with their boutique hotel brand, Hotel Indigo”
Following the announcement in February that the wealth performance management firm had completed the purchase of the prominent city centre building, Prydis has begun development to create a new breed of commercial space. In terms of footfall on the high street they have a prime location and are attracting some exciting newcomers to the city, as well as established brands looking to relocate to the prime High Street location
Priday, explains: “The layout of the site is being constructed with a clear purpose. The design will reflect the changing needs of the retailer, the high street and the consumer. We are providing something that does not yet exist in the city and a beacon for the region that will become a hive of activity”
Once settled by the Romans, Exeter is now a vibrant and forward-thinking city hub. Boasting a thriving University and a prime location for the business and leisure market. The Prydis site comprises more than 70,000 sq foot of prime real estate, overlooking Exeter Cathedral and gives Hotel Indigo a fantastic vantage point with 360° views over the Cathedral Green, the city and beyond.
Anna Corkill, Director, Development, UK & I, IHG, commented: “We are excited to bring Hotel Indigo to Exeter. Boutique hotels are as popular as ever in the UK, with guests looking to stay in something unique when they travel. Just as no two neighbourhoods are alike, no two Hotel Indigo properties are designed alike – each is inspired by its unique neighbourhood story yet marries the certainty of quality and comfort with local style and flavour – making it the perfect brand choice for Exeter.”
“The redevelopment has been planned to make the most of the beauty of the nearby cathedral, the city centre and the surrounding area. Priday added: “Despite the current business disruption, we have been approached by numerous potential High Street tenants and we are actively seeking the right partners who share our ambition and love for the region; those who can see the future of the high street and want to protect the integrity of our heritage while building for the future.”