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Madison Cairn and PGIM have announced the opening of the Staybridge Suites Brighton, the first investment of the joint venture.
The property was originally a stalled construction project and was reconfigured, rebranded, and completed by the joint venture.
The hotel comprises both studio and suite offerings, all of which have double or king beds, a fully equipped kitchen, a relaxing seating area and high-speed Wi-Fi.
It is based on Fleet Street in Brighton near the station and also includes The Den, which can be used for business meetings or leisure, a fitness room, and a laundry room which is available day and night.
Aneil Handa, director of Madison Cairn, said: “We are thrilled to open our first hotel with our joint venture partners, PGIM Real Estate. It has been a privilege working with one of the world’s largest real estate managers, in a partnership where our skills complement each other’s perfectly and position us well for our next chapter of growth in the sector.
“This is a key milestone for us, and we look forward to exploring more opportunities across the UK.”
Charles Crowe, managing director at PGIM Real Estate, added: “We’re delighted with the opening of this first project with Madison Cairn, one of the most experienced operators in the sector, and look forward to progressing our venture.”
Madison Cairn is an independent real estate investment, asset, and development manager and PGIM Real Estate is the global asset management business of Prudential Financial.
