London Hotel Growth Predicted to Outpace Rest of Europe
Date: October 2018
Location: London
Who Said: JLL and London & Partners
What: According to findings from a new report monitoring hotel capacity across European cities, London is set to add 11,600 rooms (representing 8% uplift) to its hotel market by 2020, providing business
and leisure visitors planners with an even greater choice of accommodation.
Further analysis from the 2018 London Hotel Development Monitor Report shows that the growth of the capital’s hotel market is set to outpace a number of major European cities by 2020, including Paris, Berlin, Lisbon and Milan.
The report also highlights the growth of the lifestyle hotel market segment or those that place an emphasis on design, art and the latest technology features.
Hotel brands of this kind in London include: CitizenM, Soho House, Rosewood and The Ned.
Tracy Halliwell, director of tourism, conventions and major events at London Convention Bureau, said: “London is a world class destination for leisure and business travellers and it’s no surprise to see that hoteliers are showing a strong appetite for opening some of their best and most exciting properties in the capital.
“We’ve seen a number of different styles of hotel open across a range of price bands, providing even greater choice for visitors from all over the world.”
Some of the top hotels to open in the capital include The Londoner, a five-star 15 level hotel that is set to transform the hospitality scene when it opens in 2020.
The Principal London opened earlier this year, while Rosewood is currently turning the former US embassy site in Mayfair into its second location in the city.
Finally, Hard Rock Hotel London will open next spring.
Taking over the site of the Cumberland Hotel, it is a stone’s throw from Oxford Street, and will comprise of 1,000 rooms and suites and, of course, a Hard Rock Café, as well as two bars.
Graham Craggs, managing director, JLL Hotels & Hospitality, added: “London is one of the most liquid hotel markets in Europe and a popular investment hotspot for both domestic and international investors.
“The weaker pound has attracted a variety of overseas hotel operators and investors to invest in hotel real estate.
“Despite political uncertainty, investors and hotel companies continue to view London as a key destination.
“This is evidenced by the willingness to consider new development opportunities and the number of new hotel brands opening in the London market.”
Size: 13 page PDF
Cost: Free
Get a Copy – via JLL or THPT
THPT Copy: Although not everyone agrees! STR reports room rates and occupancy levels across London hotels dropped in September.
Average daily rate and revenue per available room both fell by 3.1% to £158.93 and 3.2% to £138.04 respectively, while occupancy marginally decreased by 0.1% to 86.9%.
The absolute ADR and revpar levels were the lowest for a September in London since 2014.
First Seen: The Caterer