Liverpool’s hotel market on the rise, says GVA
Liverpool’s hotel market is on the up, according to figures from leading property advisors GVA.
STR Global data for Liverpool hotels shows a positive growth in occupancy and average daily rate (ADR) since 2013.
Occupancy in 2015 reached 75.1 per cent while ADR was £68.08, producing a revenue per available room (RevPAR) of £51.15; a 19 per cent growth since 2010.
Martin Davis, GVA’s director of hotels said: “This growth has been supported by a large increase in overseas visitors to the city. Liverpool has a well-developed tourism offer, with a strong events calendar, and is a popular short break leisure destination.
“Supply is largely weighted towards the budget end of the market which accounts for almost 40 per cent of total room stock in the city. The city also has a well-developed supply of extended stay properties and is home to brands such as Adagio, StayCity and Staybridge Suites.”
Martin added: “While the city’s commercial market is not as large as neighbouring Manchester, it has shown positive growth in recent years which has helped drive higher occupancy and rates for hotels.”
According to the AMPM Hotels Database, there are 48 hotel projects across Liverpool in the pipeline. While several of these are listed as ‘on hold’, these developments could potentially impact on future hotel performance.
Hotels due to launch in the future include the easyHotel Liverpool, Roomzzz Liverpool City and Staycity Aparthotels Liverpool – due in 2017. Principal Liverpool and Times Aparthotel by Vincent are due in 2018.
Stephen Cowperthwaite, regional senior director at GVA Liverpool, said: “Liverpool has a very strong retail and leisure offer that supports the tourism economy. In addition there are a number of regeneration projects ongoing across the city, the largest being Liverpool Waters, a £5.5bn scheme to develop the historic docklands site. These projects will further improve the attractiveness of the city to visitors which will have a positive impact on hotel performance in the future.”
