London hotel growth predicted to outpace rest of Europe – new report suggests
The hotel offering in London is set to receive a significant boost as a number of new establishments are set to open in the capital within the next few years, according to a new report.
The findings from the 2018 London Hotel Development Monitor Report state that the capital is set to add 11,600 rooms to its hotel market by 2020, providing business and leisure visitors planners with an even greater choice of accommodation.
Further analysis from the report published by JLL and London & Partners, 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.
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 establishments open across a range of price bands, providing even greater choice for visitors from all over the world.”
As London continues to attract high levels of business and leisure visitors, hotel operators are showing a strong appetite for increasing hotel capacity across the city, with an 8% uplift predicted by 2020.
Some of the top establishments to open in the capital include The Londoner, a five-star 15 level building 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.
Graham Craggs, managing director, JLL Hotels & Hospitality, added: “London is one of the most liquid 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 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.”