Easyhotels is to build a new property in Cambridge after signing a 25-year lease on a site in the city.
The 100-room hotel, which is due to open in 2019, will be located on Newmarket Road, around one mile from Cambridge city centre. The project is subject to obtaining planning permission.
The budget chain said it hoped to benefit from opening a property close to the “Silicon Fen” hub for technology companies in and around the Cambridge area.
The Cambridge property will be Easyhotel’s third leased site – most of its hotels are either owned by the company or franchised developments.
Easyhotel CEO Guy Parsons, said: “Having recently completed a successful fundraising to fund the acceleration of our owned hotel portfolio, this announcement is a clear signal of our intent and ambition to expand our development pipeline, targeting popular business and leisure city centre locations.
“The Cambridge site takes Easyhotel’s pipeline of owned/leased development projects to 1,041 rooms, adding one of the UK's most thriving and popular cities to our network. The board looks forward to announcing further opportunities in due course."