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UK tourism hits record high providing welcome boost to hotel market
June 25, 2012Article by Ray Withers
2012 has seen the UK firmly in the spotlight ringing in events such as the Queen’s Diamond Jubilee earlier this month and with the Olympics just around the corner it is no surprise that tourist levels have, as a result, seen a significant increase as international visitors arrive en masse, eager to soak up the jubilant and festive atmosphere.
According to the Visit Britain International Passenger Survey (IPS), April 2012 saw 2.9 million visits from overseas during which £1.4 billion was spent, a 10% year-on-year increase.
This increase in tourist volume has had a ripple effect on spending also as in the year to April 2012, spending totalled £18bn representing annual growth of 5%.
Although London will undoubtedly experience high volumes of visitors due to the upcoming Olympics, it’s not only the capital that will see the majority of traffic as cities outside the Capital also enjoy an increase in numbers with tourists keen to experience everything that that the UK has to offer.
Nowhere is this more evident than York which ranks second in a league of hotel occupancy rates for 2011 (STR Global) and was also voted Britain’s’ favourite small city in 2011 according to a YouGov Independent Poll, 2011.
This is good news for hotels as increased demand means that occupancy levels will remain high and in turn generate more income. There has never been a more lucrative time to take advantage of these healthy occupancy levels and invest in a hotel room.
Ray Withers, Chief Executive of leading hotel investment experts, Property Frontiers says:
“As with any investment, it is essential to look at supply and demand and really the figures speak for themselves with tourist numbers reaching an all-time high and spending increasing. With hotels in the provinces achieving a 1.4% increase in profit per room as a result of a 4.8% increase in RevPAR, York stands out as a solid investment choice.”
For investors who wish to cash in on York’s growing tourism demand and flourishing hotel sector, look no further than Tulip Inn at Burn Hall, a fully operational and trading hotel 20 minutes from York.
Investors are able to purchase an en-suite hotel room for £49,950 which is then leased back to the hotel owner who manages the room on the investors’ behalf. Demand for this particular investment has been staggering so to snap up one of the remaining 5 units please contact Property Frontiers on +44 1865 202 700 or visit www.propertyfrontiers.com.