The hotel market is currently witnessing huge activity across the UK, particularly in cities where previous residential schemes can easily be transferred into a hotel project. Manchester is no exception to this despite being placed second only to London in the 2008 Cushman & Wakefield UK Cities Monitor as best city in terms of hotel accommodation.
In addition to the city centre a large number of Manchester City Region’s town centre redevelopment plans include a hotel development of some proportion, and Manchester Airport and Salford Quays also represent key hotel hubs.
Hotel development is necessary, not only to support the region’s inward investment proposition but in continuing to support the region’s attractiveness to both business and leisure visitors. In 2007 Manchester ranked within the top 60 most successful conference destinations in the World according to the ICCA (International Congress and Convention Association) and in 2008 beat off competition from New York and Berlin to be named the World City of Sport.
MIDAS, working alongside Marketing Manchester, is proactively coordinating the hotel market across the Manchester City Region to encourage and retain investment in this sector: firstly through the identification of gaps within the current hotel market, both in terms of type and size of offer, and secondly to support existing hoteliers through assessment of potential growth areas and future demand streams to support the increasing bedstock.
MIDAS is fully aware of the need for sustainable investment, and therefore looks to identify and support projects that complement the existing hotel offer, in the first instance to ensure that all investment decisions are based on informed market intelligence.
Previous support provided includes:
· Availability of the MIDAS & Marketing Manchester ‘Manchester Hotel Sector Overview’ Winter 2008/09
· Market information and independent assessment of the marketplace for use in funding applications and the production of internal business cases
· Matching of development opportunities with hotel groups or operators looking at the Manchester City Region
· Property identification for those looking to purchase a site
The hospitality and tourism sector across Greater Manchester is an important contributor to the overall economy. The sector generates up to £1.6bn in GVA annually across the city region, and employs an estimated 109,300 employees.
To find out more about hotel and hospitality in the Manchester City Region or for a copy of our Manchester Hotel Sector Overview Winter 2008/09, please contact:
Kate Morgan, Business Development Manager
Kate.Morgan@midas.org.uk
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