Finance & DevelopmentDevelopmentHilton to Develop Modular Hotel at Bristol Airport

Hilton to Develop Modular Hotel at Bristol Airport

Bristol, U.K. and MCLEAN, Va.—Hilton Worldwide has reached an agreement with modular building provider CIMC to develop the first hotel at Bristol Airport under its economy Hampton by Hilton brand. Financed and owned by CIMC, the hotel will be managed by Hilton Worldwide.

CIMC’s modular technique significantly reduces the time taken for construction by manufacturing and assembling portions of the hotel, including guestrooms and hallways, in China, before transporting them to the final site for assembly. The model helps ensure consistent quality and accelerates the build schedule on site.

“CIMC’s capacity to deliver modular sections of the building to the final hotel site offers an incredible opportunity to overcome many of the challenges faced during construction,” stated Patrick Fitzgibbon, senior vice president of development, Europe and Africa, at Hilton Worldwide. “Alongside potential time and cost efficiencies, CIMC’s ability to provide senior debt to developers using its modular building technique underpins its robust growth model, and we are seeing more and more opportunity for this structure in mature markets such as the U.K., and developing economies, most notably in Africa.”

The 201-room property is expected to open in spring 2016 and will be the first hotel at the airport.

CIMC MBS is the modular division of parent company CIMC Group, the $10 billion turnover Chinese PLC. The funding for the scheme with be coming from the Internal Financing Division, CIMC Capital. CIMC MBS have capabilities to own, develop, fund, and supply modular units to hotel projects and are actively pursuing development opportunities with Hilton Worldwide in multiple countries.