Attractions industry news

26 Nov 2018

UK hotel industry 'swinging towards luxury' as investors target affluent visitors

The total number of high-end hotels in the UK has increased by 140 in the last two years, while the number of hotels rated three-star and below fell by 110 in the same period.

The figures come from real estate law firm Boodle Hatfield, which suggests that investors in the hotel sector are increasingly banking on attracting more affluent tourists – driving a rise in the number of luxury hotels openings and upgrades in the UK.

Investors from overseas, particularly the Middle East and Singapore, have been key in bringing new investment into the luxury hotel sector in recent years.

Some of London landmark hotels – including the Savoy, the Four Seasons and the Corinthia – are now owned, at least in part, by investors from the Gulf.

“There has been a very noticeable shift in investor focus towards the luxury end of the hotel market, as overseas ultra high net worth individuals seek to capitalise on London’s ability to attract affluent visitors," said Adam Chamberlain, partner at Boodle Hatfield.

“London is one of the premier centres for wealth management globally, and that is increasingly reflected in the type of tourists the capital attracts. Investors have moved to meet demand from these visitors for luxury hotels.

“Wealthy individuals, particularly from the Middle East, have for some time identified the UK luxury hotel sector as a major area of interest, as it blends the capital preservation of London real estate, a strong income stream, and the prestige that ownership of a landmark property offers.”

Chamberlain added that the UK’s tourism industry has benefitted from London’s reputation for attracting wealthy individuals.

Tourists are forecast to spend a record £26.3bn in the UK in 2018, up 7.1 per cent on 2017 – partly due to a weak pound caused by the uncertainties around Brexit.

<< Back

News powered by

Kew Gardens opens giant natural play zone

Inspired to encourage children to develop a lasting relationship with plants and nature, Royal Botanic Gardens, Kew in London is all set to open its giant new Children’s Garden to the public this weekend (18 May). [more...]

17th annual Museums and Heritage awards honour 'innovative and ground-breaking initiatives'

The winners of the Museums + Heritage Awards were announced in London last night (15 May), with museums large and small being honoured and Sir David Attenborough picking up a Special Recognition Award. [more...]

New tourist attraction for Inverness Castle, as LDN Architects appointed to transform site

Inverness Castle in the Scottish Highlands is to be transformed into a tourist attraction that celebrates the Highlands' past, present and future, with LDN Architects, based in Edinburgh and Forres, appointed to work on the project. [more...]

Butlin’s opens 'revolutionary' £40m pool designed by FITCH

Family resort operator Butlin's has launched an art-deco style pool and water attraction at its Bognor Regis resort. [more...]

London's first riverside linear park to feature 'wellness portals'

New York-based architecture firm Diller Scofidio + Renfro (DS+R) have unveiled the first series of renderings of "The Tide", a linear park planned for London's Greenwich Peninsula. [more...]

EAS gets rebranded as IAAPA Expo Europe - event heads to Paris this September

Registration is now open for the newly-renamed IAAPA Expo Europe (IEE), with this year's European showcase for visitor attractions coming to Paris, France, in September. [more...]

In brief:

Golden toilet among Cattelan exhibits set for Blenheim Palace @BlenheimPalace @maurizio_art [more...]
ITV Studios reaches IP deal with upcoming London Resort project [more...]
UK arts and culture is a thriving industry, says report @Cebr_uk [more...]
Hull Maritime attractions looking likely to get major £27.5m revamp @Hullccnews [more...]
UK Government funds £4m development of immersive experiences for Wallace and Gromit and Peaky Blinders @aardman @Maze_Theory @TinyRebelGames @sugarcreative @potatobristol @potatolondon @uswgames [more...]
Chester Zoo’s new Grasslands area to feature overnight lodgings for visitors @chesterzoo [more...]
Hal McEvoy: attractions sector must improve sustainability @IAAPAHQ [more...]
Climate change protesters stage "die-in" at London museum @NHM_London [more...]
Stephen Hawking VR tour of the universe will launch in 2020 and go worldwide @AtlanticProds [more...]
More news from>>
<< Back