Property investors looking for opportunities in the UK hotel sector this year will find some of the most exciting prospects and trends in the city of Liverpool, which is home to Liverpool hotel investments like Seel Street and the Epic Hotel and Residence.
Investment reaches £63 million
The encouraging developments under way in this part of the UK were highlighted in the latest Liverpool Hotels Update from the city council and the Local Enterprise Partnership.
Key figures from the research showed that £63 million was invested in hotels and serviced apartments in 2018, with seven new property openings and two major refurbishments.
Nearly 2.09 million rooms were sold over the course of last year, an increase of four per cent from 2017, while average occupancy rates rose from 78.7 per cent to 81.8 per cent. One of the most significant changes was in the weekday occupancy rate, which climbed from 76.7 per cent to 80.7 per cent.
Councillor Wendy Simon, assistant mayor and cabinet member for culture, tourism and events, said: “I am particularly encouraged to see that our weekday occupancy figures have seen a welcome and healthy increase this year. We are keen to see this figure improve further, which it will as our Exhibition Centre continues to attract returning events who have already sampled the best the city has to offer and decided to come back.”
Ms Simon went on to note that Liverpool has a “powerful brand” that generates loyalty and “all the benefits that this can bring”.
With the ACC Liverpool venue enjoying its strongest ever year in 2018 (£27.3 million turnover) and various exciting events on the way before the end of this year, including the River of Light fireworks display in November, there is every reason for investors to expect further strong performance in the hotel market.