UK - The latest research from London’s marketing organisation Visit London and TRI Hospitality Consulting hints that the capital will see a 12 per cent increase in new hotel rooms by 2012.
The forecasted increase of 13,300 will take the total hotel room supply in the capital to over 123,000 by the time of the Olympic and Paralympic Games.
“The London 2012 Olympic and Paralympic Games are a huge opportunity for the tourism industry in London especially in terms of accommodation,” says Visit London interim CEO, Sally Chatterjee. “Hotel investors and developers clearly have faith in the long-term ability of the city to attract business, with the Games providing a valuable stimulus to bringing forward developments that might otherwise have taken many years to get off the ground.”
The re-launched Hotel Development Monitor tracks scheduled hotel openings, development ‘hot spots’ and potential gaps in the market. Visit London says that despite the recession, future hotel development remains robust with development projects concentrated in the budget and high end markets.
“The visitor economy plays a vital role in the capital’s economy with over 300,000 jobs in the industry,” says chief executive at the London Development Agency, Peter Rogers.
