Hotel investors eye Cambridge deals moving into 2021 | News

Hotel investors eye Cambridge deals moving into 2021 | News

Cambridge has grow to be essentially the most engaging UK metropolis for resort funding in 2021, in keeping with new analysis from Deloitte.

The college metropolis is intently adopted by rival Oxford and Scottish capital Edinburgh, which rank second and third, respectively, the within the annual resort trade survey.

In Europe, Amsterdam stays essentially the most engaging metropolis for resort funding subsequent yr, adopted by London and Paris.

General, the temper of the market remained upbeat, regardless of the challenges posed by the Covid-19 pandemic.

Over two-thirds of respondents are ‘strongly’ or ‘barely’ optimistic concerning the long-term way forward for the UK resort market, with the bulk additionally predicting an increase in profitability over the following 5 years.

Andreas Scriven, head of hospitality and leisure at Deloitte, stated: “The resort trade has been one of many hardest hit by the outbreak of Covid-19.

“Nevertheless, as vaccination developments look more and more promising and shoppers assume forward to 2021 travels, senior hospitality figures are extra optimistic concerning the yr forward.

“Certainly, many anticipate profitability to rise between now and 2025.”

He added: “The restrictions on worldwide journey this summer time noticed many UK shoppers change their vacation plans to home staycations.

“UK locations additionally stay engaging for resort funding, with Cambridge overtaking Edinburgh to the highest spot this yr, the latter transferring to 3rd place behind Oxford.”

In comparison with 2020 ranges, over 1 / 4 of respondents anticipate income per out there room (RevPAR) development to be higher than 9 per cent in London in 2021, with 21 per cent anticipating the identical RevPAR development for UK areas over the identical interval.

Nevertheless, half of the respondents imagine {that a} ‘no deal’ Brexit will decrease the attractiveness of London for resort funding.

Nikola Reid, director and head of UK hospitality advisory at Deloitte, added: “Throughout Europe, resort traders proceed to search for alternatives in Amsterdam which retains its place as essentially the most engaging European metropolis for funding for the fifth yr in a row.

“Second to Amsterdam is London however, because the Brexit transition deadline approaches, traders point out some warning.

“Mixed with the challenges that Covid-19 has offered this yr, boosting client confidence to as soon as once more pack their suitcase might be key to a speedy restoration of the resort trade, and guarantee long-term projected funding is realised.”

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Translate »