Date: Between 2015 and 2019
Location: UK – With 251 independently owned and managed hotels under the Best Western brand in the UK, the figure equates to an estimated £855,000 per property.
Name: Best Western, with 11 brands, globally
Owners: Independent owners have spent this money, rather than BW…looking ahead, Best Western has forecasted that 2018 is set to be another strong year for hotel investments, with £70m predicted to be invested across Best Western this year alone.
This buoyancy is also expected to continue into 2019, with a current estimate of £28m for further or currently planned investments.
These figures are particularly significant given the backdrop of market uncertainty since the 2016 Brexit referendum. In fact, when asked about the impact of Brexit Best Western found that 98.8% of its members were not concerned and continued to invest in improving their properties showing no signs of cautiousness.
Some of the most significant investments within the Best Western portfolio have been to properties in the North of England and Scotland, including over £6m at Castle Green Hotel in Kendal, BW Premier Collection; an estimated £8m at Ten Hill Place, BW Premier Collection in Edinburgh; and £3.5m at the Best Western Dundee Invercarse Hotel, Dundee.
Commenting on the announcement, Rob Paterson, Chief Executive of Best Western Great Britain, said: “The figures are a strong signal to guests and the industry that Best Western continues to invest for the future and change for the better.
We are committed to improving guest experiences in our member hotels and the multi-million pound investments being made are increasing NPS scores, raising brand standards and guest expectations.
In the last 18 months we have seen a significant pipeline of hotels approved or activated, with 50% of applicants this year for our new brands.
Best Western GB began in 1967 when five independent hoteliers from Cambridge, Chester, Kenilworth, Ripon and Torquay sought to work together to generate referrals, maximise their marketing budgets and increase sales as a result. Together they formed Interchange Hotels of Great Britain. Within weeks of this formation, a further six independent hotels joined the group.
In 1978, the group elected to trade under the brand name Best Western Great Britain, effectively an affiliate of Best Western International in the US.
THPT Comment: Best Western have done well, from introducing more up-market brands, to kicking out hoteliers who do not keep their hotels upto standards… I seem to remember Best Western UK had near-on 360 hotels when they acquired Consort back in 1999. Sadly I was around both in 1967 when Interchange started and 1999.
First Seen: Hospitality & Catering News