Hotels in region outperforming capital
HOTELS in the North West recorded a stellar 2014, outperforming their London rivals in the race for revenue growth, according to Hotel Britain 2015 – the latest annual report by business advisory and accountancy firm BDO.
In Liverpool, Manchester and Chester, hotels enjoyed a room yield – also known as revenue per available room – increase of 8.5%, 7.9% and 6% respectively on last year’s performance. By comparison, London hotels experienced a modest 0.7% increase in room yield.
All three North West cities also recorded an increase in the average price paid per room. Liverpool prices rose to £66.18 (up 3.2% on the previous year); in Manchester they were up 4.6% to £65.24 and Chester saw a 3.1% increase to £61.28.
Strong demand pushed overall UK regional hotels’ occupancy to 75.1% – the first time it has surpassed 75% for more than 10 years. With regard to occupancy levels, Manchester was the best performing city in the North West, operating at 77.6%.
Philip Storer, partner at BDO in the North West said: “For the first time in 14 years, regional hotels have outperformed their London counterparts and the North West has been a key player in that success story.
“Passenger growth at Manchester Airport was up 6.1% in 2014, compared with 4.9% for London’s airports. This goes to show that it’s not only is a rise in consumer confidence impacting on tourism within the region, but international visitors for both business and leisure have helped to buoy performance.”
The BDO report also showed that in 2015, there are 838 planned new hotel rooms opening in Manchester – the highest number outside of London.
This includes the recently-launched Gotham Hotel and Hotel Football; as well as the imminent Innside Manchester, Kingstreet Townhouse and Motel One Piccadilly.
