The latest UK Hotels Market Index by Colliers International reveals the towns where the hotel sector is doing well.
London is the major destination for tourists, but there has been significant regional growth. The top ten hotel sots in the UK include Hull and Plymouth, but number one outside of London is Edinburgh. It’s a hotspot for hotel development as demand for beds rises.
Edinburgh tourism is boosted every year by the festival, but the growth in passenger numbers at Edinburgh airport show that visitor numbers are rising at all times of the year.
After Edinburgh, at number two and three in the top ten are Bath and Belfast.
The UK Hotels Market Index calculates its top ten locations by looking at a wide range of factors including build costs, average daily hotel rates, occupancy rates and revenue per room. The index is a good guide for investors interested in purchasing or building hotels, as it provides valuable data for a business plan. The index can inform investors about the likelihood of a property deal making a good profit.
Collier’s head of hotels and resorts consulting, Marc Finney summed the index’s function:
“Of course, this is a general market index and site-specific factors will lead to significant variances, but the data demonstrates which cities investors should be watching and offers a credible indication to influence their decision-making process.”
After an investor has seen a suitable hotel, a mortgage broker will find a suitable commercial mortgage deal to finance the deal.