The city’s hotel sector enjoyed another outstanding year and is now fourth strongest in the UK.
Liverpool’s visitor economy continues to drive the city’s hotel performance with high levels of occupancy and performance to development costs.
The report, put together by Colliers International UK, includes some impressive stats. Most noticeably:
• Liverpool recorded the 4th highest Occupancy rate in the UK (81.8%)
• RevPAR, the industry standard determining how much revenue is brought in per available room, has grown more than anywhere else in the UK over the past four years (+7.3%)
• The city also has the fifth most active pipeline of upcoming hotels, growing its room stock by just over 10% between now and the end of 2020
Chris Brown, Director of Marketing Liverpool, said:
“We already know from the hotel development update that our hotel sector had a tremendous performance in 2018, breaking all previous records. However, this research from Colliers International is extremely valuable to see how we measure up against other UK destinations. There are lots of encouraging statistics within the report but the key one is that our revenue per available room – which I believe is the most important measurement of how well a destination is really doing – grew more than any other UK city in 2018. We have several major hotels opening in the city in 2019, and this shows it’s an extremely strong market for them to be joining.”
You can read the full report by clicking here.