Olympia London has announced that global hotel group Hyatt, boutique hotel chain citizenM, and live entertainment company AEG Presents, have all signed long-term agreements to operate out of the redeveloped west London venue from 2023.
The three pre-let agreements mean the signatories are the first occupiers to commit to the scheme.
The 5* Hyatt Regency London Olympia will have 196 rooms and suites with a bar and deli and will be connected to a new restaurant, whilst citizenM’s fifth London destination will feature 145 rooms, three societyM rooms and an 'interpretation of the citizenM Living Room'. AEG Presents will run a 4,400-capacity purpose built live music venue, located above the existing west exhibition hall.
The £1.3bn (US$1.7bn) Olympia London redevelopment project aims to create a new cultural hub that will include a four-screen arthouse cinema, 1,500-seat theatre, live music venue, restaurants, shops, cafés, two hotels and 5,100sqm of office and co-working space. The Heatherwick Studio and SPPARC-designed project will also see the enhancement of the existing event spaces and 1,000sqm of new public space created.
Nigel Nathan, managing director of Olympia London, said: “We’re incredibly excited to have these fantastic brands joining us as our new onsite neighbours. Collectively we’re creating richer experiences and more opportunities for all our customers and visitors that we host at our venue.”
Chairman of YOO Capital John Hitchcox said: “It’s been a challenging year for the events, live entertainment, retail and hospitality sectors – but having these three partners on board is a real positive for London and a clear indication of confidence in both the city and this iconic landmark as a destination for culture and creativity. It will give a real boost to the local economy, bringing in an extra £9m (US$12m) per year in consumer spending to Hammersmith & Fulham, so we are very pleased to be taking another big step towards the realisation of a new vision for this area.”
