London sees growth in hotel development, as new properties open across capital for 2016
43 budget properties are expected to open by the end of 2018, with low-cost accommodation in the city predicted to increase by 29% over the next three years.
The number of hotel rooms in London is expected to grow by 12% over the next three years according to new data compiled by London & Partners and AM:PM, with the increase being driven by an uplift in budget and five star hotel accommodation across the capital. These new properties and hotel extensions will add 17,769 more rooms across the capital over the same period, up from the current figure of 138,769.
The data shows that 43 budget properties are expected to open by the end of 2018, with low-cost accommodation in the city predicted to increase by 29% over the next three years. Over the coming three years, 19 five star properties will also open in the capital, increasing the hotel stock in this category by%.
Tracy Halliwell MBE, Director of Business Tourism and Major Events at London & Partners, said: “With the rising number of business and leisure visitors to London and strong occupancy levels across the city, it is great to see that a range of hotel companies are investing in new properties, catering for the demand for both low-cost and high-end hotels. With properties right next to many tourist attractions, these investments will help to attract more visitors to London as well as provide new facilities for both local and international businesses to host meetings and conferences across the city.”
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