BridgeStreet Global Hospitality Strikes Multi-Unit Management Deal With Stow-Away

Global Hospitality Provider Expands Portfolio Utilizing Prefab Modular Construction

Reston, VA /PRNewswire/ - Fortifying its position as a pioneer in the extended-stay hospitality space, BridgeStreet Global Hospitality has entered a 20-year management agreement for the first Stow-Away Project, a Stüdyo-style apart-hotel brand. Located on the bustling Lower Marsh street in Waterloo, London, the micro-studios will utilize prefabricated modular construction to provide compact living spaces that deliver both quality and value. The project perfectly matches the eclectic energy of Lower Marsh with its award-winning coffee shops, independent booksellers, art galleries, and outdoor market.

"BridgeStreet is excited to partner with Stow-Away as they develop their unique offering and brand, and we look forward to working with them on multiple sites over the coming years," said Sean Worker, chief executive officer of BridgeStreet Global Hospitality. "As a thought leader within our own industry, together we have a shared sensibility in emerging hospitality trends. The location of this first project marries perfectly with BridgeStreet's drive to provide guests with localized experiences at affordable price points. Stow-Away's willingness to further extend the prefabricated modular construction trend to hospitality is exhilarating."

Charlie Fulford of Stow-Away adds, "We are pleased to have selected a very well-established brand that brings decades of substantive knowledge to our brand and offering. As a renowned manager within the wider extended-stay space with global scale but also local, regional expertise. Vedrana Riley of Ciel Capital (Stow-Away's co-founders and investors) adds: "We are fully confident our brand is in good hands with BridgeStreet. Their ability to generate unique demand through their robust distribution and sales platform was another important factor in our decision."

Doone Silver Architects have been commissioned to undertake the design of the project with a ground floor boasting both a café and reception area that will complement Lower Marsh's independent and collaborative community. Lower Marsh Stow-Away, under BridgeStreet Global Hospitality's management, is expected to open in Q4 of 2017. Additional collaborative projects between BridgeStreet and Stow-Away could generate between 200-400 units in London by 2022.

For more information on BridgeStreet Global Hospitality, visit www.bridgestreet.com.

About BridgeStreet Global Hospitality
With more than 50,000 apartments in over 60 countries, BridgeStreet Global Hospitality – comprised of six unique brands – is the leading hospitality solution offering serviced apartment experiences for travelers seeking an alternative to typical hotel accommodations. BridgeStreet's family of brands includes six-star Exclusive, five-star Residences, four-star Mode Aparthotel and Living, three-star Places and two-star Stüdyo offering the convenience of apartment living with a variety of service packages to offer each guest options based on location, price point and individual needs. Widely recognized for uncompromising standards of quality, comfort and service, BridgeStreet Global Hospitality is a renowned award winner in both the Americas and EMEA (Europe, the Middle East and Africa). For more information on BridgeStreet Global Hospitality, please visit www.bridgestreet.com.

About Stow-Away
Stow-Away is a joint venture between Stow Projects and Ciel Capital.

Charlie Fulford is the founder of Stow Projects – an innovative property development and urban regeneration company. Stow Projects developed and currently operates the Artworks Elephant, a highly successful creative business and food and drink hub in repurposed shipping containers in Elephant & Castle (a joint venture with Lendlease) and are currently also progressing two new aparthotel opportunities in Lambeth and Deptford, as well as other mixed-use development projects in central London.

About Ciel Capital
Ciel Capital is an innovative real estate investor, joint venture equity partner and asset manager. The Management team have over 70 years' of experience in real estate, property development, lending, fund management and the deployment of equity. For more information on Ciel Capital, please visit www.ciel-capital.com.