Leeds City Region LEP gives green light to Hilton Hotel
The Leeds City Region Local Enterprise Partnership (LEP) has today approved funding for the Leeds Arena Hilton Hotel which is to be developed and owned by GB Group and is set to become a destination hotel within the region.
The £4.8m funding has been allocated from the LEP’s £36m Growing Places fund which provides loans for projects that will create economic and employment growth for the city region.
It is anticipated that over 100 long term jobs will be created when the Hotel is up and running in 2015, with the potential to create 370 short term jobs, primarily in the construction sector, through the development of the site. GB Group is committed to employing apprentices and will continue to work with the Leeds City Region Local Enterprise Partnership through the five three one campaign. For more information on the campaign, please visit: http://business.leedscityregion.gov.uk/campaigns/fivethreeone/
It is expected that this investment in infrastructure will deliver substantial economic impact in the city region, especially within the construction sector. This investment is estimated to add a GVA total of around £43m to the city region’s economy by 2026.
Plans for the new Leeds Arena Hilton were first unveiled to Leeds and Partners during the 2013 Leeds City Region Investment Week at MIPIM. The city’s inward investment organisation has been working in partnership with developer contractor GB Group, to support their plans for the new destination hotel and will continue to provide support through recruitment, apprenticeships and the hotel opening.
The two hundred and six bedroom, fourteen story hotel, situated in the heart of Leeds city centre will include a signature sky-bar with panoramic views of the city, including the new flagship Leeds Arena. Alongside this social hub, the hotel will also provide state of the art meeting rooms and conference facilities for the many city region businesses and potential investors to meet and network.
The hotel will be built and owned by GB Group Holdings but will be operated as a core brand Hilton Hotel under a franchise agreement. The site in which the hotel will be built is currently derelict and therefore will inject much needed funding into this area of the city.
Roger Marsh, Chair of the Leeds City Region Local Enterprise, said:
"This investment is fantastic news for businesses, visitors and residents within the Leeds City Region."
"Development of a key city centre site adds to the state of the art facilities within the city and is likely to act as a catalyst to support further investment opportunities."
"I am delighted that once again the Leeds City Region LEP is supporting vital inward investment in the region and is enabling the creation of new jobs."
Brandon Riley, Director of Hotels at GB Group, said:
"I am delighted that we are now in a position to move forward with our plans for this exciting new investment."
"The new Leeds Arena Hilton will be a premier destination for business and leisure in the city, providing a fantastic boost to the visitor economy in addition to driving regeneration and job creation."
"'This project is a great example of how the public and private sector can work together in partnership to achieve a common goal."
Lurene Joseph, Chief Executive at Leeds and Partners, said:
"We are delighted with the partnership that we have formed with GB Group Holdings.
"This new project will continue further development in this part of the city and help to cement the widely recognised success of the first direct arena.
"More importantly, it will create sustainable economic growth through the creation of permanent jobs and will support the skills agenda through employment and training opportunities for young people."
Work is due to start immediately with construction due to take place from November onwards.