hoTels


Inbound tourism entering a period of great opportunities


philippe rossiTer is chief executive of Institute of Hospitality


Travelodge eyes up expansion peTe hayman


Travelodge has announced plans to build 35 new hotels this year – in the UK and in Spain – as part of a £300m investment in its estate. Te move will increase the


A


ccording to the CBI’s recent London Business survey, 84 per cent of companies in the capi- tal regard it as a good place to


do business. Yet it is not all rosy, for within the survey findings, there is also evidence of some of the perennial ‘gripes’ from London-based enterprises; high operating costs, the tax environment and the trans- port infrastructure. In addition, the survey was conducted aſter the government’s June 2010 budget, and before the spending review announcement. Tere is, therefore, an element of uncertainty within the survey findings, with 45 per cent of respondents undecided about the economic recovery. In keeping with the outcome of this ‘sat-


isfaction survey’, it is interesting to note how well the London hospitality indus- try has fared over the past twelve months. Hoteliers in London have had some excep- tional results, with more than 12 per cent revPAR growth, and the highest occupancy in Europe at some 83 per cent. Whether this trend will continue for


2011 is not clear, although the industry remains optimistic. Te Royal Wedding, the Champions League final and the accelerat- ing build up to the Olympics will all create the conditions for increased visitor arriv- als, both business and leisure. Nevertheless, these positives have to be set against a more challenging domestic economic environ- ment, with the impact of the government’s austerity measures beginning to hit home. Add to this the relative appreciation of


sterling against both the euro and the dol- lar, coupled with the VAT increase, and there is every chance that the UK, and London in particular, will become more expensive for overseas travellers. Tere is, however, room for optimism,


with a report from VisitBritain revealing that 83 per cent of holidaymakers in London rated dining out as their top experience, with 49 per cent enjoying the attractions of its pubs. All told, the capital attracted more than 14 million visitors, spending in excess of £8bn. At a time of general eco- nomic gloom this is a positive message from which we can all glean some good cheer.


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budget hotel operator’s port- folio to 495 hotels and comes as the group increased its growth targets to have 1,100 properties by 2025. More than half of the new-


build Travelodge hotels to open this year are being built in major UK cities, includ- ing Birmingham; Cardiff; Liverpool; and Manchester. Five of the properties will be developed


Sahara India Pariwar plans to joint run the property with JW Marriott


in coastal locations such as Morecambe and Paignton, while a new Travelodge is also planned for Valencia Airport, Spain. Travelodge’s chief executive, Guy Parsons, said: “We have successfully acquired superior


sites due to lower market property prices, which otherwise would not have been avail- able for hotel use. “We have demonstrated our commitment to


expand and have a clear growth plan laid out which means we will reach more than 1,100 hotels and 100,000 rooms by 2025.”


‘Key events’ to benefit London hotel operators peTe hayman


April’s Royal Wedding and the 2012 Olympic and Paralympic Games present a ‘fantastic opportunity’ for London hoteliers. According to HVS London, hotels are now able to charge full room rates and demand


minimum stays, with properties already fully booked for the wedding of Prince William. HVS London is predicting that the capital’s


hoteliers could benefit from “boom years” as a result of the events, as well as other major UK cities such as Edinburgh and Manchester.


Westfield Stratford City deal confirmed peTe hayman


Cycas Hotel Partners and Patron Capital have secured the long-term leasehold rights for two hotels which are being built at London’s Westfield Stratford City development. Due to open ahead of the


2012 Games, the deal encom- passes 350 rooms and suites and include a Holiday Inn and a Staybridge Suites property. Cycas Hospitality will run


the hotels in a franchise agree- ment with Intercontinental Hotels Group. Westfield will lead the construction phase. John Wagner, director at


London’s Westfield Stratford City is to boast a 188-bedroom Holiday Inn


Cycas Hotel Partners, said: “Te new Holiday Inn and Staybridge Suites at Westfield Stratford City will be situated in one of London’s most important new developments.”


Read Leisure Opportunities online: www.leisureopportunities.co.uk/digital Patron Capital director of hospitality Josh


Wyatt added: “Te project represents a prime opportunity to own and operate a large scale hotel scheme in London.”


Twitter: @leisureopps © CYBERTREK 2011


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