The UK Hotel Market Index has named Manchester as England’s leading regional hotel market.
Research conducted by Colliers International analysed 36 UK locations and ranked them according to key performance indicators (KPIs) to determine the best locations for hotel development and acquisition.
Colliers identified Manchester’s strong investment and valuation parameters and the performance of its existing hotels as factors making the city top of the region.
Julian Troup, head of UK hotels agency and based at the Manchester office of Colliers International, says: “High land prices in London mean investors are looking outside of the capital for opportunities to spend their cash.
“Consequently, the hotel market in Manchester and across the wider North West continues to go from strength to strength. There is a healthy growth in trade and value in line with the wider economy, and whilst that remains stable due to supporting accommodative monetary policy, this growth should continue in 2016.
“The major North West cities of Manchester and Liverpool are seeing unprecedented growth. Occupancy is growing in both cities, indicating a supply shortage in the market. This is in spite of the fact that a further 1,073 rooms opened in Manchester and Liverpool during 2015.”