Cardiff Ranks First for Hotel Development in UK
Welsh capital leads the ranking for hotel development and acquisition
According to Colliers, Cardiff emerged as the UK’s top hotspot for hotel development last year and is set to hold the title in 2017.
Cardiff reached the top of the index table mainly due to its low active pipeline, low build costs and strong hotel performance over the last three. The Welsh capital also saw the biggest Compounded Annual Growth Rate (GAGR) of 11.4% over the reviewed period (2012 to 2015) with good growth reported year on year.
The 2016 report compiled by Colliers International’s Hotels team, used nine key performance indicators – including; land value, room occupancy rates and construction costs – to give each of the 36 locations a score from one to five (one being the lowest and five being the highest).
The scores were then consolidated into a single figure and ranked to show which markets are hot and which are not in terms of a desirable location for investors to acquire an existing hotel or develop a new one.
Marc Finney, head of hotels and resorts consulting, Colliers International said: “High land prices in London are causing investors to look outside of the Capital for opportunities to spend their cash.”
The Top 10:
Hotel Investment in Cardiff Remains Strong in 2017
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