24th May 2007

Hilton Garden Inn Picks Butterfield as its First UK Location

Easter Group has secured Hilton Hotels as the first major name at its one million sq ft Butterfield business and technology park in Luton.

Easter, on behalf of the landowners including The Crown Estate, has negotiated the sale of a 3.1-acre site to Oxford GB Ltd to develop a 155-bedroom mid market Hilton Garden Inn hotel.  The £16m hotel is a high quality business hotel, with business centre, fitness suite and 10 meeting rooms (for up to 250 delegates).  It is being funded by the Luton Hotel Syndicate set up by Tritax Ltd, which has a substantial portfolio of hotels.

Peter Taylor, Easter Group's managing director said:  "It is a great start to have Hilton choosing Butterfield as the first location in the UK for its Hilton Garden Inn brand.  Luton and its growing international airport is becoming a major business location and this hotel will provide a considerable boost to the regional economy."

The building has been designed to acheive BREEAM "VERY GOOD" standard, which is unusual for hotels.  It includes a Bio-mass boiler system, which is fuelled by wood/wood-pellets.

Oxford GB is a specialist developer of hotels in the UK, being a JV between Oxford Hotels and Gleeson Building Ltd.  Oxford GB has created a unique formula with Tritax, whereby both parties acheive additional financial value by investing in sustainable technology.  Simon Wood of Oxford GB says:  "We have been developing the concept of additional value from using sustainable technology for some time, and are delighted to have worked together successfully with the forward thinking Tritax fund, who share this vision."

Butterfield is owned freehold by The Crown Estate, Butterfield Land and Luton Borough Council.