citizenM and Hyatt confirmed as first tenants at transformed Olympia London, the two hotels will move into the £1.3bn regeneration scheme from 2023

02 December 2020

Yoo Capital and Deutsche Finance International (DFI) – together the investors in and developers of the £1.3 billion regeneration of Olympia London into a world-leading cultural destination – announce three major agreements with leading names in entertainment and hospitality, marking the first occupiers to commit to the landmark scheme, four years ahead of its scheduled completion. With construction work underway at the 14-acre site, live entertainment company AEG Presents, global hotel group Hyatt and affordable luxury lifestyle and hotel brand citizen have all signed long-term agreements to operate out of the west London venue.

citizenM London Olympia, the brand's fifth London destination, will feature 145 rooms, three societyM meeting rooms, and an exciting interpretation of the citizenM Living Room in the historic listed Apex Room.

Hyatt Regency London Olympia will deliver personalised and energising guest experiences, memorable dining and flexible places to work, collaborate and relax. It will feature 196 rooms and suites, four meeting rooms, a bar and deli, and be connected to a new restaurant to be developed in the historic Pillar Hall.

And a 4,400-capacity state-of-the-art, purpose built live music venue, to be located above the existing west exhibition hall, will be run by AEG Presents.

The £1.3 billion Olympia redevelopment project will create a new cultural hub in west London. Yoo Capital and DFI are also in advanced talks with other potential occupiers with strong interest being shown for the development’s four-screen arthouse cinema, 1,500-seat theatre, restaurants, shops, cafés, hotels and 550,000 sq ft of office and co-working space. The Heatherwick Studio and SPPARC-designed project will also see the enhancement of the existing exhibition halls and 2.5 acres of new public space created.

CBRE and Cushman & Wakefield are joint advisors on the leasing. The Olympia London redevelopment is due to be completed in 2024.

Owen Pritchard, Executive Director, EMEA Hotels at CBRE said “We are extremely pleased to have supported Deutsche Finance International and YOO Capital in securing two market leading hotel operators that will further enhance the allure of Olympia as a world-leading cultural and entertainment destination.”

Chairman of Yoo Capital, John Hitchcox, added: “It’s been a challenging year for the events, live entertainment, retail and hospitality sectors – but having these three partners on board is a real positive for London and a clear indication of confidence in both the city and this iconic landmark as a destination for culture and creativity. The Olympia project will give a real boost to the local economy, bringing in an extra £9m per year in consumer spending to Hammersmith & Fulham, so we are very pleased to be taking another big step towards the realisation of a new vision for this area.”